Owens Corning (NYSE:OC) Price Target Raised to $192.00

Owens Corning (NYSE:OC) had its price objective increased by Royal Bank of Canada from $175.00 to $192.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays cut Owens Corning from an overweight rating to an equal weight rating and decreased their target price for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. JPMorgan Chase & Co. lowered their target price on Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a research note on Tuesday, February 20th. Argus increased their price target on Owens Corning from $175.00 to $182.00 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 stock an in-line rating in a report on Thursday. Finally, Citigroup increased their target price on Owens Corning from $150.00 to $169.00 and gave the stock a neutral rating in a report on Friday, April 5th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $168.21.

Owens Corning Trading Up 1.4 %

Shares of OC stock opened at $167.30 on Thursday. The stock’s fifty day moving average is $158.86 and its two-hundred day moving average is $145.94. 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 has a market capitalization 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 has a fifty-two week low of $99.49 and a fifty-two week high of $173.65.

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

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

Insider Buying and Selling

In other news, insider Gunner Smith sold 7,442 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 36,140 shares in the company, valued at approximately $5,384,498.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares in the company, valued at approximately $5,384,498.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,672 shares of company stock valued at $3,325,799. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds and other institutional investors have recently made changes to their positions in OC. MV Capital Management Inc. raised its position in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new position in Owens Corning during the first quarter valued at approximately $26,000. Contravisory Investment Management Inc. acquired a new position in Owens Corning during the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in Owens Corning during the fourth quarter valued at approximately $27,000. Finally, Riverview Trust Co acquired a new position in Owens Corning during the first quarter valued at approximately $28,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.