Royal Bank of Canada Issues Pessimistic Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC - Get Free Report) had its price target decreased by equities research analysts at Royal Bank of Canada from $212.00 to $199.00 in a report released on Monday,Benzinga reports. The firm presently has an "outperform" rating on the construction company's stock. Royal Bank of Canada's price target would indicate a potential upside of 44.23% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a report on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price for the company. Citigroup cut their price objective on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a research report on Monday. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.58.

Owens Corning Trading Up 1.0 %

Shares of OC stock traded up $1.35 on Monday, reaching $137.98. 1,891,879 shares of the stock were exchanged, compared to its average volume of 808,443. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The stock has a market cap of $11.80 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $148.43 and a two-hundred day moving average of $172.23.

Owens Corning (NYSE:OC - Get Free Report) last posted its 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. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.21 earnings per share. On average, research analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was 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 of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of Owens Corning

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OC. Norges Bank acquired a new stake in Owens Corning in the fourth quarter worth $208,519,000. JPMorgan Chase & Co. lifted its holdings in Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after acquiring an additional 424,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Owens Corning by 41.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock valued at $242,337,000 after acquiring an additional 414,770 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Owens Corning in the fourth quarter worth about $51,400,000. Finally, Raymond James Financial Inc. bought a new position in shares of Owens Corning during the 4th quarter valued at about $51,220,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.