Norbord Inc (OSB) Price Target Cut to C$50.00 by Analysts at CIBC
Norbord Inc (TSE:OSB) had its price objective reduced by stock analysts at CIBC from C$54.00 to C$50.00 in a report issued on Tuesday. CIBC’s target price suggests a potential upside of 7.53% from the stock’s previous close.
Several other equities analysts also recently issued reports on OSB. TD Securities cut their price target on shares of Norbord to C$50.00 and set a “hold” rating for the company in a report on Tuesday. Scotiabank reissued an “outperform” rating and set a C$55.00 price target on shares of Norbord in a report on Monday. BMO Capital Markets reissued an “underperform” rating and set a C$32.00 price target on shares of Norbord in a report on Friday, September 29th. Finally, CSFB lifted their price target on shares of Norbord from C$50.00 to C$54.00 in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Norbord currently has an average rating of “Buy” and a consensus target price of C$50.00.
Shares of Norbord (OSB) traded up 0.43% during midday trading on Tuesday, hitting $46.50. 785,136 shares of the company’s stock traded hands. Norbord has a 1-year low of $28.91 and a 1-year high of $51.75. The firm has a market capitalization of $4.00 billion and a price-to-earnings ratio of 15.30. The company has a 50 day moving average price of $48.07 and a 200 day moving average price of $42.64.
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In other Norbord news, insider Nigel Banks sold 19,000 shares of the business’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, insider Robin E.A. Lampard sold 51,300 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of C$43.00, for a total transaction of C$2,205,900.00. Over the last ninety days, insiders sold 170,123 shares of company stock valued at $7,478,112.
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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