Norbord Inc. (OSB) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Norbord Inc. (NYSE:OSB) have been given an average recommendation of “Buy” by the eleven brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $38.81.
A number of equities research analysts have weighed in on the company. Bank of America Corporation began coverage on Norbord in a report on Monday. They issued a “sell” rating and a $41.00 target price for the company. BMO Capital Markets downgraded shares of Norbord from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $31.00 to $32.00 in a research report on Friday, September 29th. They noted that the move was a valuation call. CIBC lowered shares of Norbord from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 25th. Scotiabank reiterated a “buy” rating and set a $44.25 price objective on shares of Norbord in a report on Tuesday, August 29th. Finally, Vertical Research lowered shares of Norbord from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th.
Several hedge funds have recently made changes to their positions in the company. AGF Investments Inc. lifted its position in shares of Norbord by 173.2% during the second quarter. AGF Investments Inc. now owns 54,680 shares of the construction company’s stock valued at $1,703,000 after purchasing an additional 34,668 shares in the last quarter. Sentry Investments Corp. grew its position in Norbord by 53.3% in the 2nd quarter. Sentry Investments Corp. now owns 46,000 shares of the construction company’s stock worth $1,857,000 after purchasing an additional 16,000 shares in the last quarter. Renaissance Group LLC grew its position in Norbord by 6.0% in the 2nd quarter. Renaissance Group LLC now owns 15,345 shares of the construction company’s stock worth $478,000 after purchasing an additional 862 shares in the last quarter. Acadian Asset Management LLC grew its position in Norbord by 229.0% in the 2nd quarter. Acadian Asset Management LLC now owns 804,725 shares of the construction company’s stock worth $25,012,000 after purchasing an additional 560,125 shares in the last quarter. Finally, Morgan Stanley grew its position in Norbord by 243.1% in the 1st quarter. Morgan Stanley now owns 173,402 shares of the construction company’s stock worth $4,944,000 after purchasing an additional 122,868 shares in the last quarter. Institutional investors own 80.86% of the company’s stock.
Norbord (OSB) traded up 1.13% during trading on Wednesday, hitting $39.54. The stock had a trading volume of 7,256 shares. The firm has a market capitalization of $3.40 billion, a P/E ratio of 13.01 and a beta of 4.01. Norbord has a one year low of $21.40 and a one year high of $41.88. The stock has a 50 day moving average of $39.01 and a 200 day moving average of $39.01.
Norbord (NYSE:OSB) last posted its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.01). The business had revenue of $536.00 million during the quarter. Norbord had a return on equity of 37.87% and a net margin of 13.52%. Equities research analysts expect that Norbord will post $4.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, September 1st were paid a dividend of $0.398 per share. The ex-dividend date was Wednesday, August 30th. This is a boost from Norbord’s previous quarterly dividend of $0.22. This represents a $1.59 annualized dividend and a yield of 4.07%. Norbord’s dividend payout ratio (DPR) is 52.30%.
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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