Shares of Norbord Inc (NYSE:OSB) have received an average recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $38.00.
OSB has been the topic of a number of research reports. Vertical Research lowered shares of Norbord from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $45.00 target price (up previously from $40.00) on shares of Norbord in a research note on Friday, November 1st. CIBC lifted their target price on shares of Norbord from $30.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Zacks Investment Research raised shares of Norbord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, ValuEngine cut shares of Norbord from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 4th.
Shares of OSB opened at $26.16 on Friday. The firm’s 50-day moving average price is $27.98 and its 200-day moving average price is $24.39. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 5.54 and a beta of 1.99. The company has a current ratio of 1.80, a quick ratio of 0.91 and a debt-to-equity ratio of 0.97. Norbord has a 1-year low of $19.46 and a 1-year high of $30.46.
Norbord (NYSE:OSB) last announced its earnings results on Thursday, October 31st. The construction company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $443.09 million. Norbord had a negative net margin of 3.12% and a positive return on equity of 0.91%. The company’s revenue for the quarter was down 32.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. On average, research analysts forecast that Norbord will post -0.25 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. lifted its position in Norbord by 1.1% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 5,457,434 shares of the construction company’s stock valued at $130,912,000 after acquiring an additional 60,425 shares during the period. Vanguard Group Inc. raised its holdings in Norbord by 3.5% in the second quarter. Vanguard Group Inc. now owns 1,377,699 shares of the construction company’s stock worth $34,153,000 after buying an additional 46,450 shares during the last quarter. Pictet Asset Management Ltd. raised its holdings in Norbord by 3.4% in the third quarter. Pictet Asset Management Ltd. now owns 888,671 shares of the construction company’s stock worth $21,317,000 after buying an additional 29,393 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Norbord by 39.7% in the second quarter. Wells Fargo & Company MN now owns 591,904 shares of the construction company’s stock worth $14,673,000 after buying an additional 168,093 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Norbord by 88.2% in the second quarter. Morgan Stanley now owns 470,698 shares of the construction company’s stock worth $11,669,000 after buying an additional 220,611 shares during the last quarter. 77.79% of the stock is owned by 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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