Norbord Inc (OSB) Given Consensus Rating of “Buy” by Analysts
Norbord Inc (TSE:OSB) has been given a consensus rating of “Buy” by the eight analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$48.57.
OSB has been the subject of several research analyst reports. Canaccord Genuity raised Norbord from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from C$43.00 to C$47.00 in a report on Tuesday, June 6th. CSFB increased their target price on Norbord from C$42.00 to C$50.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. BMO Capital Markets lifted their target price on Norbord from C$28.00 to C$31.00 and gave the stock a “market perform” rating in a research report on Monday, July 31st. Scotiabank reiterated an “outperform” rating and issued a C$44.25 price target on shares of Norbord in a report on Friday, August 18th. Finally, Royal Bank Of Canada boosted their price target on Norbord from C$50.00 to C$58.00 and gave the company a “top pick” rating in a report on Monday, September 25th.
Shares of Norbord (TSE OSB) traded up 1.08% during midday trading on Wednesday, reaching $49.42. The company’s stock had a trading volume of 47,277 shares. The firm has a market capitalization of $4.26 billion and a PE ratio of 16.26. The company’s 50-day moving average price is $45.26 and its 200 day moving average price is $41.37. Norbord has a 1-year low of $28.91 and a 1-year high of $51.75.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Friday, September 1st were issued a $0.398 dividend. This is an increase from Norbord’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, August 30th. This represents a $1.59 annualized dividend and a dividend yield of 3.26%.
In related news, insider Nigel Banks sold 19,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of C$42.00, for a total value of C$798,000.00. Also, Director Houston Paul sold 3,245 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of C$45.17, for a total transaction of C$146,576.65. Insiders sold 170,123 shares of company stock worth $7,478,112 over the last ninety days.
Norbord Company Profile
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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