Norbord (NYSE:OSB) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Friday, The Fly reports.
A number of other research firms have also commented on OSB. Zacks Investment Research raised Norbord from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. TheStreet lowered Norbord from a “b-” rating to a “c+” rating in a research note on Tuesday. ValuEngine lowered Norbord from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. Raymond James reaffirmed a “buy” rating and set a $45.00 price objective on shares of Norbord in a research note on Friday, May 3rd. Finally, CIBC raised Norbord from a “sector underperform” rating to a “neutral” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Norbord has a consensus rating of “Buy” and a consensus target price of $35.33.
Shares of OSB stock opened at $21.55 on Friday. Norbord has a fifty-two week low of $19.46 and a fifty-two week high of $44.15. The firm has a market capitalization of $1.76 billion, a PE ratio of 4.57 and a beta of 1.90. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.80 and a quick ratio of 0.85.
Norbord (NYSE:OSB) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The company had revenue of $476.00 million for the quarter, compared to analyst estimates of $462.00 million. Norbord had a net margin of 11.92% and a return on equity of 32.42%. As a group, sell-side analysts anticipate that Norbord will post 1.7 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the business. Letko Brosseau & Associates Inc. boosted its stake in Norbord by 0.9% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 5,223,949 shares of the construction company’s stock worth $143,977,000 after buying an additional 46,005 shares during the last quarter. Norges Bank acquired a new stake in Norbord in the 4th quarter worth about $37,815,000. TD Asset Management Inc. boosted its stake in Norbord by 21.1% in the 1st quarter. TD Asset Management Inc. now owns 806,301 shares of the construction company’s stock worth $22,222,000 after buying an additional 140,535 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Norbord by 2.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 725,514 shares of the construction company’s stock worth $19,316,000 after buying an additional 15,149 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in Norbord by 13.3% in the 1st quarter. Pictet Asset Management Ltd. now owns 720,784 shares of the construction company’s stock worth $19,866,000 after buying an additional 84,467 shares during the last quarter. 79.11% of the stock is currently owned by hedge funds and other institutional investors.
Norbord Company Profile
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers 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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