Royal Bank of Canada Reaffirms “Outperform” Rating for Owens Corning (NYSE:OC)

Owens Corning (NYSE:OC)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $212.00 price objective on the construction company’s stock. Royal Bank of Canada’s price target points to a potential upside of 47.14% from the stock’s previous close.

Several other analysts have also recently issued reports on OC. Citigroup decreased their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays reduced their target price 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. Finally, Loop Capital lowered their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Stock Performance

Shares of OC traded up $0.11 on Monday, reaching $144.08. The company’s stock had a trading volume of 122,692 shares, compared to its average volume of 732,271. Owens Corning has a 12-month low of $137.50 and a 12-month high of $214.53. The stock has a market capitalization of $12.32 billion, a P/E ratio of 12.26, a PEG ratio of 1.88 and a beta of 1.52. 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’s 50 day simple moving average is $169.96 and its two-hundred day simple moving average is $177.43.

Owens Corning (NYSE:OC) last issued its quarterly earnings results 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. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.21 earnings per share. Research analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated 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. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

Several large investors have recently bought and sold shares of OC. Menard Financial Group LLC lifted its stake in Owens Corning by 3.6% in the 4th quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock valued at $387,000 after buying an additional 80 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Owens Corning in the 4th quarter valued at about $25,218,000. Polar Asset Management Partners Inc. grew its holdings in shares of Owens Corning by 76.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 20,500 shares of the construction company’s stock worth $3,492,000 after purchasing an additional 8,900 shares during the period. Toronto Dominion Bank increased its position in Owens Corning by 6.2% during the 4th quarter. Toronto Dominion Bank now owns 11,702 shares of the construction company’s stock worth $1,993,000 after purchasing an additional 679 shares in the last quarter. Finally, Vise Technologies Inc. lifted its position in Owens Corning by 96.6% during the fourth quarter. Vise Technologies Inc. now owns 2,434 shares of the construction company’s stock valued at $415,000 after buying an additional 1,196 shares in the last quarter. 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.