Owens Corning (NYSE:OC) Price Target Cut to $212.00 by Analysts at Royal Bank of Canada

Owens Corning (NYSE:OC) had its price target reduced by Royal Bank of Canada from $224.00 to $212.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Other research analysts have also recently issued reports about the company. 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 report on Thursday, November 7th. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. UBS Group lowered their target price on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday. Citigroup lowered their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $210.00.

Owens Corning Trading Down 2.5 %

OC stock opened at $158.75 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $145.50 and a 12-month high of $214.53. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.88 and a beta of 1.46. The business’s 50-day moving average is $176.48 and its 200 day moving average is $179.01.

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

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is presently 23.49%.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its position in Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after purchasing an additional 53 shares during the period. Greenleaf Trust raised its position in Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after purchasing an additional 56 shares during the period. CoreCap Advisors LLC increased its position in shares of Owens Corning by 3.3% during the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock worth $305,000 after acquiring an additional 57 shares during the period. Retirement Guys Formula LLC increased its position in shares of Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after acquiring an additional 60 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

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.