Royal Bank of Canada Raises Owens Corning (NYSE:OC) Price Target to $217.00

Owens Corning (NYSE:OC - Free Report) had its price objective raised by Royal Bank of Canada from $213.00 to $217.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the construction company's stock.

Several other equities research analysts also recently issued reports on OC. Citigroup upgraded Owens Corning from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Wells Fargo & Company boosted their price target on shares of Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Thursday. UBS Group raised their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research note on Thursday. Evercore ISI upped their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday. Finally, Barclays decreased their price target on shares of Owens Corning from $190.00 to $189.00 and set an "equal weight" rating for the company in a research report on Friday, July 12th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $192.62.

Owens Corning Trading Up 1.5 %

Owens Corning stock traded up $2.82 during trading on Thursday, reaching $187.46. 919,943 shares of the company were exchanged, compared to its average volume of 682,967. The stock's 50 day simple moving average is $174.98 and its two-hundred day simple moving average is $173.36. The company has a market capitalization of $16.30 billion, a P/E ratio of 15.87, a PEG ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. Owens Corning has a 52-week low of $120.17 and a 52-week high of $191.44.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.01 by $0.37. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm earned $4.15 EPS. The company's quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts expect that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Friday, October 18th. Owens Corning's dividend payout ratio is currently 20.32%.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

Institutional Trading of Owens Corning

Several hedge funds have recently made changes to their positions in the company. Retirement Guys Formula LLC raised its holdings in Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company's stock worth $342,000 after purchasing an additional 58 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company's stock valued at $323,000 after buying an additional 68 shares in the last quarter. Tobam raised its position in Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company's stock worth $47,000 after acquiring an additional 73 shares in the last quarter. First Bank & Trust lifted its holdings in Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company's stock valued at $646,000 after acquiring an additional 73 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Owens Corning by 24.9% in the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company's stock valued at $65,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

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.