RBC Capital Reiterates Their Buy Rating on Owens Corning

By Ryan Adsit

RBC Capital analyst Robert Wetenhall reiterated a Buy rating on Owens Corning (NYSE: OC) on July 27 and set a price target of $79. The company’s shares closed yesterday at $67.22, close to its 52-week high of $68.80.

According to TipRanks.com, Wetenhall is a top 100 analyst with an average return of 13.5% and a 71.5% success rate. Wetenhall covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Installed Building Products, and Advanced Drainage Systems.

Currently, the analyst consensus on Owens Corning is Moderate Buy and the average price target is $74.38, representing a 10.7% upside.

In a report issued on July 13, Jefferies also reiterated a Buy rating on the stock with a $72 price target.

Owens Corning’s market cap is currently $7.48B and has a P/E ratio of 19.41. The company has a book value ratio of 1.8817.

Based on the recent corporate insider activity of 150 insiders, corporate insider sentiment is negative on the stock. Last month, Arnaud Genis, the Group Pres Composite Materials of OC sold 21,544 shares for a total of $1,409,839.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Owens Corning engages in the development, manufacture, and marketing of insulation, roofing, and fiberglass composites. It operates through the following segments: Composites, Insulation, and Roofing.