Owens Corning (NYSE:OC) Given New $199.00 Price Target at Royal Bank of Canada

Owens Corning (NYSE:OC) had its target price reduced by Royal Bank of Canada from $212.00 to $199.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

OC has been the subject of a number of other research reports. UBS Group reduced their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Loop Capital reduced 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. JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Barclays lowered their target price on Owens Corning from $215.00 to $179.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $194.58.

Owens Corning Stock Performance

Shares of OC opened at $140.20 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a one year low of $123.41 and a one year high of $214.53. The company has a 50-day moving average of $151.87 and a two-hundred day moving average of $173.24.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business posted $3.21 EPS. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities research analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.97%. Owens Corning’s dividend payout ratio is currently 37.70%.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’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 sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Owens Corning

Institutional investors have recently bought and sold shares of the stock. FPC Investment Advisory Inc. acquired a new position in Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC boosted its stake in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning during the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Owens Corning in the fourth quarter worth about $34,000. 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.