Norbord (OSB) Price Target Raised to C$53.00 at CIBC

Norbord (TSE:OSB) had its target price raised by equities research analysts at CIBC from C$50.00 to C$53.00 in a report issued on Tuesday. CIBC’s target price points to a potential downside of 0.60% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. BMO Capital Markets set a C$32.00 target price on Norbord and gave the company an “underperform” rating in a report on Friday, February 9th. Raymond James Financial upped their target price on Norbord from C$65.00 to C$66.00 in a report on Tuesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$51.88.

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OSB stock traded up C$1.87 during mid-day trading on Tuesday, reaching C$53.32. 258,468 shares of the stock traded hands, compared to its average volume of 350,580. Norbord has a 52-week low of C$38.00 and a 52-week high of C$53.53.

Norbord (TSE:OSB) last posted its quarterly earnings data on Friday, February 2nd. The company reported C$1.79 EPS for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.06. The company had revenue of C$756.97 million during the quarter. Norbord had a net margin of 26.85% and a return on equity of 66.95%.

In other Norbord news, insider Nigel Banks sold 19,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of C$47.00, for a total transaction of C$893,000.00. Also, insider Peter Cornelius Wijnbergen sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$44.80, for a total value of C$448,000.00. Insiders sold 36,000 shares of company stock worth $1,656,000 in the last 90 days.

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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.

Analyst Recommendations for Norbord (TSE:OSB)

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