Royal Bank of Canada Reiterates "Outperform" Rating for Owens Corning (NYSE:OC)

Owens Corning (NYSE:OC - Get Free Report)'s stock had its "outperform" rating restated by Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They currently have a $212.00 target price on the construction company's stock. Royal Bank of Canada's price objective would indicate a potential upside of 46.72% from the stock's previous close.

Several other equities analysts also recently commented on the company. UBS Group decreased their target price on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Barclays lowered their price objective on Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $204.18.

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Owens Corning Stock Performance

Shares of NYSE OC traded down $2.58 during midday trading on Monday, hitting $144.49. 2,356,577 shares of the company's stock were exchanged, compared to its average volume of 744,532. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company's 50 day moving average price is $168.01 and its 200 day moving average price is $176.70. 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 market capitalization of $12.36 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company's quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.21 earnings per share. As a group, analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.89% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. acquired a new position in Owens Corning in the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC increased its holdings in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC acquired a new stake in Owens Corning in the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB raised its position in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning during the 4th quarter worth about $34,000. Institutional investors 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.