Owens Corning (NYSE:OC) Price Target Increased to $192.00 by Analysts at Royal Bank of Canada

Owens Corning (NYSE:OC) had its target price raised by Royal Bank of Canada from $175.00 to $192.00 in a research report report published on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the construction company’s stock.

OC has been the topic of a number of other reports. Argus raised their target price on shares of Owens Corning from $175.00 to $182.00 and gave the stock a buy rating in a research report on Thursday. Barclays downgraded Owens Corning from an overweight rating to an equal weight rating and cut their price target for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Loop Capital lifted their price target on Owens Corning from $167.00 to $188.00 and gave the stock a buy rating in a research note on Monday, April 1st. Evercore ISI boosted their target price on shares of Owens Corning from $154.00 to $172.00 and gave the company an in-line rating in a research note on Thursday. Finally, Truist Financial boosted their target price on shares of Owens Corning from $115.00 to $145.00 and gave the company a hold rating in a research note on Thursday, February 15th. Eight research 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 company’s stock. According to MarketBeat, Owens Corning has an average rating of Moderate Buy and an average target price of $168.21.

Owens Corning Stock Up 1.4 %

OC stock opened at $167.30 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. Owens Corning has a twelve month low of $99.49 and a twelve month high of $173.65. The company’s 50 day moving average is $158.86 and its two-hundred day moving average is $145.94. The stock has a market cap of $14.56 billion, a P/E ratio of 13.36, a PEG ratio of 6.98 and a beta of 1.47.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company earned $2.77 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Research analysts expect that Owens Corning will post 13.92 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, March 1st. Owens Corning’s payout ratio is currently 19.43%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 708 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total value of $108,840.84. Following the completion of the transaction, the insider now owns 39,994 shares in the company, valued at approximately $6,148,277.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gunner Smith sold 708 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the completion of the transaction, the insider now directly owns 39,994 shares in the company, valued at $6,148,277.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,672 shares of company stock worth $3,325,799. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Owens Corning

Institutional investors have recently made changes to their positions in the business. MV Capital Management Inc. raised its position in shares of Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Owens Corning in the 1st quarter valued at approximately $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning in the 4th quarter valued at approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Owens Corning in the 4th quarter valued at approximately $27,000. Finally, Riverview Trust Co acquired a new stake in shares of Owens Corning during the 1st quarter valued at approximately $28,000. 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.