Owens Corning (NYSE:OC) PT Raised to $192.00

Owens Corning (NYSE:OC) had its price target hoisted by analysts at Royal Bank of Canada from $175.00 to $192.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 13.91% from the company’s previous close.

Several other analysts have also weighed in on OC. JPMorgan Chase & Co. decreased their target price 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. Evercore ISI lifted 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 report on Thursday. Loop Capital boosted their price target on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Truist Financial boosted their price target on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Finally, Argus boosted their price target on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $168.55 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.76. The firm’s 50-day simple moving average is $159.88 and its 200-day simple moving average is $146.32. Owens Corning has a twelve month low of $99.49 and a twelve month high of $173.65. The firm has a market cap of $14.66 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 6.98 and a beta of 1.47.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business earned $2.77 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, research analysts expect that Owens Corning will post 13.92 EPS for the current fiscal year.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paula Russell sold 3,765 shares of the business’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 transaction of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,672 shares of company stock worth $3,325,799. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently modified their holdings of OC. Invesco Ltd. increased 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 valued at $202,932,000 after purchasing an additional 906,782 shares in the last quarter. Pacer Advisors Inc. increased its stake in Owens Corning by 6,116.6% in the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after purchasing an additional 819,201 shares in the last quarter. Norges Bank bought a new stake in Owens Corning in the fourth quarter valued at approximately $118,251,000. Federated Hermes Inc. increased 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 purchasing an additional 447,606 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in Owens Corning by 9,571.1% in the fourth quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock valued at $21,287,000 after purchasing an additional 142,131 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

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.