Owens Corning’s (OC) Outperform Rating Reiterated at Royal Bank of Canada

Owens Corning (NYSE:OC)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They currently have a $212.00 price objective on the construction company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 47.14% from the stock’s current price.

Several other equities research analysts also recently weighed in on OC. UBS Group reduced their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Citigroup cut their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays decreased 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 report on Wednesday, February 26th. Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Five 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning Stock Up 0.1 %

NYSE OC traded up $0.11 during mid-day trading on Monday, reaching $144.08. 122,692 shares of the company’s stock traded hands, compared to its average volume of 732,271. The company has a fifty day simple moving average of $169.96 and a 200-day simple moving average of $177.43. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.52. 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 (NYSE:OC) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the company earned $3.21 earnings per share. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, equities research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Owens Corning

Several institutional investors and hedge funds have recently added to or reduced their stakes in OC. CIBC Asset Management Inc increased its stake in Owens Corning by 4.8% in the third quarter. CIBC Asset Management Inc now owns 3,513 shares of the construction company’s stock valued at $620,000 after acquiring an additional 162 shares during the period. Natixis Advisors LLC lifted its holdings in Owens Corning by 1.9% during the 3rd quarter. Natixis Advisors LLC now owns 17,903 shares of the construction company’s stock valued at $3,160,000 after purchasing an additional 339 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Owens Corning by 15.0% during the third quarter. Thrivent Financial for Lutherans now owns 231,352 shares of the construction company’s stock worth $40,838,000 after purchasing an additional 30,192 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Owens Corning by 67.7% in the third quarter. Quest Partners LLC now owns 8,940 shares of the construction company’s stock valued at $1,578,000 after buying an additional 3,608 shares during the last quarter. Finally, Lindenwold Advisors INC lifted its position in Owens Corning by 3.2% during the 3rd quarter. Lindenwold Advisors INC now owns 3,168 shares of the construction company’s stock worth $559,000 after buying an additional 97 shares in the last quarter. 88.40% of the stock is currently owned by 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.