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

Stock analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning (NYSE:OC) in a research report issued on Tuesday. The firm set a “buy” rating and a $183.00 price target on the construction company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 29.06% from the company’s previous close.

A number of other equities analysts have also recently issued reports on OC. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a report on Monday, March 17th. UBS Group reduced their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.42.

Owens Corning Price Performance

NYSE:OC traded down $1.03 during trading hours on Tuesday, hitting $141.79. The company’s stock had a trading volume of 39,851 shares, compared to its average volume of 778,114. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The business’s 50-day moving average is $163.83 and its two-hundred day moving average is $176.26. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The company has a market capitalization of $12.13 billion, a PE ratio of 12.05, a PEG ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 earnings per share. As a group, research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal 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 that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OC. Captrust Financial Advisors boosted its holdings in shares of Owens Corning by 20.9% in the 3rd quarter. Captrust Financial Advisors now owns 15,113 shares of the construction company’s stock valued at $2,668,000 after buying an additional 2,613 shares during the period. Verition Fund Management LLC increased its stake in shares of Owens Corning by 24.7% in the third quarter. Verition Fund Management LLC now owns 15,516 shares of the construction company’s stock valued at $2,739,000 after purchasing an additional 3,070 shares during the period. Centiva Capital LP boosted its position in shares of Owens Corning by 68.2% during the third quarter. Centiva Capital LP now owns 8,040 shares of the construction company’s stock worth $1,419,000 after buying an additional 3,261 shares during the period. Hilltop Holdings Inc. bought a new stake in Owens Corning during the 3rd quarter valued at $364,000. Finally, Harmony Asset Management LLC bought a new position in shares of Owens Corning in the third quarter worth $541,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

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.