Owens Corning (NYSE:OC) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning (NYSE:OC) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $183.00 price target on the construction company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 24.32% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Barclays dropped their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Owens Corning Price Performance

Shares of OC opened at $147.20 on Tuesday. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a fifty day moving average price of $162.15 and a 200 day moving average price of $175.91. The company has a market cap of $12.59 billion, a P/E ratio of 12.53, a PEG ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the firm earned $3.21 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. On average, research analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several hedge funds have recently modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new stake in Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC increased its position in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB lifted its position in shares of Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning in the 4th quarter worth approximately $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.