Owens Corning (OC) PT Set at $102.00 by Royal Bank of Canada
Owens Corning (NYSE:OC) received a $102.00 target price from equities researchers at Royal Bank of Canada in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the construction company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 20.14% from the company’s current price.
A number of other equities analysts have also weighed in on the company. MKM Partners boosted their price objective on Owens Corning to $86.00 and gave the stock a “neutral” rating in a research note on Thursday. Credit Suisse Group reissued an “outperform” rating and set a $110.00 price objective (up previously from $95.00) on shares of Owens Corning in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Thursday, January 18th. KeyCorp reaffirmed a “buy” rating and issued a $115.00 price target on shares of Owens Corning in a research note on Friday, January 12th. Finally, Seaport Global Securities upped their price target on Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $87.95.
Owens Corning (NYSE OC) opened at $84.90 on Friday. The firm has a market capitalization of $9,501.88, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.55. Owens Corning has a 12 month low of $57.36 and a 12 month high of $96.52.
In related news, Director John David Williams sold 3,684 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $88.64, for a total transaction of $326,549.76. Following the transaction, the director now owns 24,762 shares of the company’s stock, valued at approximately $2,194,903.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael C. Mcmurray sold 18,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $90.78, for a total value of $1,634,040.00. Following the transaction, the chief financial officer now directly owns 52,228 shares in the company, valued at approximately $4,741,257.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,820 shares of company stock worth $2,321,249. 1.80% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Cerebellum GP LLC acquired a new position in Owens Corning during the 4th quarter worth about $119,000. Strs Ohio purchased a new stake in Owens Corning during the 4th quarter worth about $129,000. Grove Bank & Trust increased its holdings in Owens Corning by 213.5% during the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after purchasing an additional 1,110 shares during the period. Focused Wealth Management Inc purchased a new stake in Owens Corning during the 4th quarter worth about $175,000. Finally, Avestar Capital LLC purchased a new stake in Owens Corning during the 4th quarter worth about $176,000. 93.65% of the stock is currently owned by hedge funds and other institutional investors.
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Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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