Owens Corning (NYSE:OC) Price Target Raised to $148.00 at Royal Bank Of Canada

Owens Corning (NYSE:OC) had its target price increased by Royal Bank Of Canada from $134.00 to $148.00 in a report released on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the construction company’s stock.

Several other research firms also recently weighed in on OC. Barclays dropped their target price on shares of Owens Corning from $138.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Citigroup dropped their target price on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. The Goldman Sachs Group raised their target price on shares of Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Bank of America dropped their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $144.00.

Owens Corning Price Performance

Shares of NYSE OC traded up $0.07 during midday trading on Thursday, hitting $121.88. The company had a trading volume of 439,583 shares, compared to its average volume of 1,387,218. The company has a quick ratio of 0.70, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.42. The business has a 50-day simple moving average of $113.83 and a two-hundred day simple moving average of $117.00. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of -18.44, a price-to-earnings-growth ratio of 2.08 and a beta of 1.35.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the business earned $2.97 earnings per share. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 9.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC lifted its stake in shares of Owens Corning by 231.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock worth $6,909,000 after purchasing an additional 34,106 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Owens Corning by 99.4% in the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after buying an additional 454,382 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Owens Corning in the third quarter valued at about $1,742,000. Rakuten Investment Management Inc. acquired a new stake in shares of Owens Corning in the third quarter valued at about $8,135,000. Finally, National Pension Service grew its stake in shares of Owens Corning by 25.5% in the third quarter. National Pension Service now owns 95,495 shares of the construction company’s stock valued at $13,509,000 after buying an additional 19,375 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.