Owens Corning (NYSE:OC) Price Target Raised to $201.00 at Royal Bank of Canada

Owens Corning (NYSE:OC) had its price objective hoisted by Royal Bank of Canada from $192.00 to $201.00 in a research note released on Tuesday morning, MarketBeat Ratings reports. Royal Bank of Canada currently has an outperform rating on the construction company’s stock.

A number of other research firms have also issued reports on OC. Argus upped their target price on Owens Corning from $175.00 to $182.00 and gave the company a buy rating in a research note on Thursday, April 25th. Evercore ISI upped their target price on shares of Owens Corning from $154.00 to $172.00 and gave the company an in-line rating in a report on Thursday, April 25th. UBS Group lifted their price target on shares of Owens Corning from $169.00 to $192.00 and gave the stock a buy rating in a report on Thursday, April 25th. Barclays downgraded Owens Corning from an overweight rating to an equal weight rating and cut their price target for the company from $170.00 to $160.00 in a report on Monday, February 12th. Finally, Truist Financial raised their price objective on Owens Corning from $115.00 to $145.00 and gave the stock a hold rating in a report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $172.07.

Owens Corning Price Performance

Owens Corning stock opened at $181.52 on Tuesday. The company has a market cap of $15.73 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 5.26 and a beta of 1.45. Owens Corning has a one year low of $105.56 and a one year high of $181.60. The business has a fifty day moving average of $169.59 and a two-hundred day moving average of $153.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.77 earnings per share. As a group, analysts predict that Owens Corning will post 15.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 3,423 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the sale, the insider now directly owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the sale, the insider now directly owns 11,381 shares in the company, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. LSV Asset Management grew its position in Owens Corning by 0.7% in the 4th quarter. LSV Asset Management now owns 2,272,150 shares of the construction company’s stock valued at $336,801,000 after buying an additional 15,714 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Owens Corning by 156.1% in the third quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock valued at $202,932,000 after acquiring an additional 906,782 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Owens Corning by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,481,937 shares of the construction company’s stock valued at $219,668,000 after acquiring an additional 35,530 shares during the period. Nordea Investment Management AB raised its holdings in Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after purchasing an additional 533,910 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Owens Corning by 7.7% in the fourth quarter. Allianz Asset Management GmbH now owns 1,057,518 shares of the construction company’s stock worth $156,756,000 after purchasing an additional 75,594 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

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.