Norbord (NYSE:OSB) was upgraded by Vertical Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, The Fly reports.
Several other research firms have also commented on OSB. Zacks Investment Research lowered Norbord from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 6th. ValuEngine lowered Norbord from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Norbord currently has an average rating of “Hold” and an average price target of $42.29.
Shares of Norbord stock opened at $27.27 on Thursday. The company has a market capitalization of $2.88 billion, a P/E ratio of 6.07, a price-to-earnings-growth ratio of 0.97 and a beta of 2.41. Norbord has a fifty-two week low of $26.61 and a fifty-two week high of $45.45. The company has a quick ratio of 1.83, a current ratio of 2.69 and a debt-to-equity ratio of 0.46.
Norbord (NYSE:OSB) last issued its quarterly earnings data on Thursday, August 2nd. The construction company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.31. Norbord had a return on equity of 48.17% and a net margin of 22.75%. The company had revenue of $707.00 million during the quarter, compared to analyst estimates of $682.27 million. During the same period in the prior year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year. Equities research analysts predict that Norbord will post 5.7 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Norbord by 5.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,727,194 shares of the construction company’s stock worth $112,077,000 after buying an additional 146,300 shares during the period. Acadian Asset Management LLC boosted its position in shares of Norbord by 24.4% during the second quarter. Acadian Asset Management LLC now owns 2,337,800 shares of the construction company’s stock worth $96,071,000 after buying an additional 459,177 shares during the period. Royal Bank of Canada boosted its position in shares of Norbord by 14.2% during the first quarter. Royal Bank of Canada now owns 1,952,515 shares of the construction company’s stock worth $70,935,000 after buying an additional 243,274 shares during the period. TD Asset Management Inc. boosted its position in shares of Norbord by 62.8% during the second quarter. TD Asset Management Inc. now owns 931,503 shares of the construction company’s stock worth $38,281,000 after buying an additional 359,456 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of Norbord by 22.3% during the second quarter. Schroder Investment Management Group now owns 681,144 shares of the construction company’s stock worth $36,563,000 after buying an additional 124,217 shares during the period. Institutional investors and hedge funds own 76.86% of the company’s stock.
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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