Owens Corning (NYSE:OC) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning (NYSE:OC) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $183.00 price target on the construction company’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 29.06% from the company’s current price.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Barclays cut their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. Wells Fargo & Company decreased their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, UBS Group dropped their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $202.42.

Owens Corning Trading Down 0.7 %

Shares of NYSE OC traded down $1.03 during mid-day trading on Tuesday, hitting $141.79. 39,851 shares of the company traded hands, compared to its average volume of 778,114. The business has a 50 day moving average of $163.83 and a two-hundred day moving average of $176.26. The stock has a market capitalization of $12.13 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the company posted $3.21 earnings per share. On average, sell-side analysts anticipate 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 company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. 111 Capital bought a new position in shares of Owens Corning in the fourth quarter worth about $1,092,000. Wealth Enhancement Advisory Services LLC lifted its position in Owens Corning by 5.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,162 shares of the construction company’s stock valued at $1,220,000 after purchasing an additional 369 shares during the period. Menard Financial Group LLC grew its stake in shares of Owens Corning by 3.6% during the fourth quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock worth $387,000 after purchasing an additional 80 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Owens Corning during the 4th quarter worth approximately $25,218,000. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Owens Corning by 76.7% in the fourth quarter. Polar Asset Management Partners Inc. now owns 20,500 shares of the construction company’s stock valued at $3,492,000 after buying an additional 8,900 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.