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

Owens Corning (NYSE:OC) had its price objective decreased by equities researchers at Royal Bank of Canada from $224.00 to $212.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 32.85% from the stock’s current price.

A number of other brokerages have also recently weighed in on OC. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Wells Fargo & Company dropped their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Evercore ISI upped their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.00.

Owens Corning Price Performance

OC traded down $3.31 during trading on Tuesday, reaching $159.58. 511,967 shares of the stock were exchanged, compared to its average volume of 727,731. Owens Corning has a 1 year low of $145.50 and a 1 year high of $214.53. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.88 and a beta of 1.46. The business’s 50 day moving average price is $176.97 and its two-hundred day moving average price is $179.00. 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 (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the firm earned $3.21 EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Insider Buying and Selling

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning in the fourth quarter worth $28,000. Venturi Wealth Management LLC boosted its position in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $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 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB raised its position in 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 purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in Owens Corning in the fourth quarter valued at about $34,000. 88.40% of the stock is 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.