Deutsche Bank Aktiengesellschaft Begins Coverage on Owens Corning (NYSE:OC)

Equities research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning (NYSE:OC) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $183.00 price target on the construction company’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 24.32% from the stock’s current price.

OC has been the subject of several other reports. UBS Group dropped their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a report on Monday, March 17th. Citigroup cut their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Barclays cut their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.42.

Owens Corning Trading Up 2.2 %

Shares of OC stock opened at $147.20 on Tuesday. The firm’s 50-day simple moving average is $162.15 and its 200-day simple moving average is $175.91. 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 has a 1-year low of $137.50 and a 1-year high of $214.53. The firm has a market cap of $12.59 billion, a P/E ratio of 12.53, a PEG ratio of 1.88 and a beta of 1.52.

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

Insider Transactions at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Hedge funds and other institutional investors have recently modified their holdings of the stock. 111 Capital acquired a new position in shares of Owens Corning in the 4th quarter worth approximately $1,092,000. Wealth Enhancement Advisory Services LLC lifted its stake in Owens Corning by 5.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,162 shares of the construction company’s stock worth $1,220,000 after purchasing an additional 369 shares during the last quarter. Menard Financial Group LLC boosted its holdings in Owens Corning by 3.6% in the fourth quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock worth $387,000 after purchasing an additional 80 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Owens Corning during the fourth quarter valued at $25,218,000. Finally, Polar Asset Management Partners Inc. raised its holdings in shares of Owens Corning by 76.7% during the fourth quarter. Polar Asset Management Partners Inc. now owns 20,500 shares of the construction company’s stock worth $3,492,000 after purchasing an additional 8,900 shares during the period. 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.