Deutsche Bank Aktiengesellschaft Initiates Coverage on Owens Corning (NYSE:OC)

Investment analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning (NYSE:OC - Get Free Report) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $183.00 price target on the construction company's stock. Deutsche Bank Aktiengesellschaft's price objective points to a potential upside of 33.28% from the stock's current price.

OC has been the topic of several other research reports. Benchmark reissued a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. Loop Capital cut their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. Wells Fargo & Company decreased their price objective on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $202.42.

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Owens Corning Price Performance

NYSE OC traded down $9.88 during trading hours on Tuesday, hitting $137.31. 1,158,030 shares of the company's stock traded hands, compared to its average volume of 782,359. The company has a market capitalization of $11.75 billion, a PE ratio of 11.69, a PEG ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 52-week low of $134.18 and a 52-week high of $214.53. The firm's 50-day moving average is $162.15 and its 200-day moving average is $175.91.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business earned $3.21 earnings per share. The business's revenue was up 23.3% compared to the same quarter last year. Equities analysts forecast that Owens Corning will post 15.49 EPS 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 stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OC. FPC Investment Advisory Inc. purchased a new stake in Owens Corning in the fourth quarter valued at $28,000. Venturi Wealth Management LLC increased its holdings in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new stake in Owens Corning in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB raised its holdings in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

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.