Royal Bank of Canada Raises Owens Corning (NYSE:OC) Price Target to $192.00

Owens Corning (NYSE:OC - Free Report) had its price target lifted by Royal Bank of Canada from $175.00 to $192.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the construction company's stock.

A number of other analysts have also issued reports on OC. JPMorgan Chase & Co. reduced their target price on Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a report on Tuesday, February 20th. Argus increased their target price on Owens Corning from $175.00 to $182.00 and gave the company a buy rating in a report on Thursday. UBS Group increased their target price on Owens Corning from $169.00 to $192.00 and gave the company a buy rating in a report on Thursday. Evercore ISI increased their target price on Owens Corning from $154.00 to $172.00 and gave the company an in-line rating in a report on Thursday. Finally, Barclays lowered Owens Corning from an overweight rating to an equal weight rating and reduced their target price for the company from $170.00 to $160.00 in a report on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $168.21.

Owens Corning Price Performance

Shares of NYSE:OC traded down $0.20 on Thursday, reaching $165.02. 731,196 shares of the company traded hands, compared to its average volume of 674,509. Owens Corning has a fifty-two week low of $98.02 and a fifty-two week high of $173.65. The company's 50 day moving average is $158.86 and its 200-day moving average is $145.94. The stock has a market capitalization of $14.36 billion, a PE ratio of 12.58, a P/E/G ratio of 7.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm earned $2.77 EPS. The company's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, analysts anticipate that Owens Corning will post 13.92 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.45%. Owens Corning's dividend payout ratio (DPR) is currently 18.29%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction dated 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 in the company, valued at $3,307,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders have sold a total of 21,672 shares of company stock worth $3,325,799 over the last three months. Corporate insiders own 0.89% of the company's stock.

Hedge Funds Weigh In On Owens Corning

Institutional investors have recently made changes to their positions in the business. Lecap Asset Management Ltd. acquired a new stake in Owens Corning during the fourth quarter worth about $1,791,000. Voss Capital LLC acquired a new stake in Owens Corning during the fourth quarter worth about $5,929,000. Louisiana State Employees Retirement System acquired a new stake in Owens Corning during the fourth quarter worth about $3,706,000. Federated Hermes Inc. grew its position in Owens Corning by 11.6% during the fourth quarter. Federated Hermes Inc. now owns 530,802 shares of the construction company's stock worth $78,681,000 after buying an additional 55,263 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Owens Corning by 97.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company's stock worth $3,110,000 after buying an additional 11,241 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

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.