Royal Bank of Canada Lowers Owens Corning (NYSE:OC) Price Target to $212.00

Owens Corning (NYSE:OC) had its price target dropped by investment analysts at Royal Bank of Canada from $224.00 to $212.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 37.73% from the company’s current price.

A number of other equities research analysts have also issued reports on OC. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Wells Fargo & Company cut their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

Owens Corning Stock Down 3.2 %

OC opened at $153.92 on Tuesday. Owens Corning has a one year low of $147.20 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock’s fifty day moving average is $176.07 and its 200-day moving average is $178.84. The company has a market capitalization of $13.20 billion, a PE ratio of 13.10, a P/E/G ratio of 1.88 and a beta of 1.46.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business earned $3.21 EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated 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 owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Owens Corning

Several large investors have recently made changes to their positions in OC. Norges Bank bought a new stake in shares of Owens Corning during the 4th quarter worth about $208,519,000. JPMorgan Chase & Co. boosted its stake in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after acquiring an additional 424,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Owens Corning by 41.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company’s stock worth $242,337,000 after acquiring an additional 414,770 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Owens Corning during the 4th quarter worth about $51,400,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Owens Corning during the 4th quarter worth about $51,220,000. Institutional investors own 88.40% of the company’s stock.

About Owens Corning

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.