Norbord Inc (OSB) Given Average Recommendation of “Buy” by Brokerages
Shares of Norbord Inc (TSE:OSB) have earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$45.32.
A number of brokerages have issued reports on OSB. Scotiabank reaffirmed an “outperform” rating and set a C$44.25 price objective on shares of Norbord in a report on Friday, August 18th. TD Securities increased their price objective on shares of Norbord from C$37.00 to C$48.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. BMO Capital Markets increased their price objective on shares of Norbord from C$28.00 to C$31.00 and gave the company a “market perform” rating in a report on Monday, July 31st. CSFB increased their price objective on shares of Norbord from C$42.00 to C$50.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “top pick” rating on shares of Norbord in a report on Wednesday, June 7th.
Shares of Norbord (TSE OSB) traded down 0.26% during trading on Friday, reaching $45.76. 418,900 shares of the company traded hands. The company has a market capitalization of $3.94 billion and a P/E ratio of 15.05. The company’s 50-day moving average price is $42.36 and its 200-day moving average price is $40.17. Norbord has a 52 week low of $28.91 and a 52 week high of $46.00.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, September 1st will be issued a $0.398 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Norbord’s previous quarterly dividend of $0.30. This represents a $1.59 dividend on an annualized basis and a dividend yield of 3.48%.
In related news, insider Peter Cornelius Wijnbergen sold 13,800 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of C$45.50, for a total value of C$627,900.00. Also, insider Robin E.A. Lampard sold 51,300 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of C$43.00, for a total value of C$2,205,900.00. Over the last three months, insiders sold 134,745 shares of company stock valued at $5,833,622.
Norbord Inc is a Canada-based producer of wood-based panels. The Company is engaged in manufacturing, sales, marketing and distribution of panelboards and related products used in the construction of new homes or the renovation and repair of existing structures. Its geographic segments include North America and Europe.
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