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

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

Several other research analysts also recently weighed in on OC. JPMorgan Chase & Co. decreased their price target on shares of Owens Corning from $164.00 to $163.00 and set a neutral rating on the stock in a research report on Tuesday, February 20th. Citigroup boosted their price objective on Owens Corning from $150.00 to $169.00 and gave the stock a neutral rating in a research note on Friday, April 5th. 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 research note on Thursday, April 25th. Evercore ISI raised their price target on shares of Owens Corning from $154.00 to $172.00 and gave the stock an in-line rating in a research note on Thursday, April 25th. Finally, Truist Financial increased their price objective on Owens Corning from $115.00 to $145.00 and gave the stock a hold rating in a research note on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $172.07.

Owens Corning Trading Up 2.7 %

NYSE OC opened at $181.52 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The stock 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. The stock has a 50 day simple moving average of $169.59 and a two-hundred day simple moving average of $153.76. Owens Corning has a fifty-two week low of $105.56 and a fifty-two week high of $181.60.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.55. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. Owens Corning’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $2.77 EPS. On average, analysts forecast that Owens Corning will post 15.48 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OC. Invesco Ltd. lifted its stake in Owens Corning by 156.1% in the third quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after acquiring an additional 906,782 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Owens Corning by 6,116.6% during the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock worth $123,415,000 after purchasing an additional 819,201 shares during the last quarter. Norges Bank acquired a new position in shares of Owens Corning during the fourth quarter worth $118,251,000. Nordea Investment Management AB increased its holdings in Owens Corning by 74.4% in the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Owens Corning by 1,602.4% in the third quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company’s stock valued at $64,868,000 after buying an additional 447,606 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

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.