Several other brokerages also recently commented on OSB. CIBC increased their price target on Norbord from $30.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. TD Securities lifted their price target on shares of Norbord from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Vertical Research cut shares of Norbord from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Raymond James raised shares of Norbord from an “outperform” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a report on Thursday, October 31st. Finally, Zacks Investment Research upgraded shares of Norbord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.00.
OSB opened at $26.80 on Wednesday. The company has a market cap of $2.31 billion, a PE ratio of 5.68 and a beta of 1.99. The stock has a 50-day moving average of $27.99 and a 200-day moving average of $24.24. Norbord has a 52-week low of $19.46 and a 52-week high of $30.46. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.91 and a current ratio of 1.80.
Norbord (NYSE:OSB) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.04). Norbord had a negative net margin of 3.12% and a positive return on equity of 0.91%. The company had revenue of $435.00 million for the quarter, compared to analyst estimates of $443.09 million. During the same period in the prior year, the company posted $1.41 EPS. The business’s revenue was down 32.0% on a year-over-year basis. On average, research analysts predict that Norbord will post -0.25 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of Norbord by 88.2% in the second quarter. Morgan Stanley now owns 470,698 shares of the construction company’s stock valued at $11,669,000 after purchasing an additional 220,611 shares in the last quarter. K2 Principal Fund L.P. acquired a new position in shares of Norbord in the 3rd quarter valued at $6,362,000. Letko Brosseau & Associates Inc. raised its stake in shares of Norbord by 3.3% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 5,397,009 shares of the construction company’s stock valued at $134,063,000 after buying an additional 173,060 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Norbord by 84.6% during the 2nd quarter. Mackenzie Financial Corp now owns 372,375 shares of the construction company’s stock worth $9,231,000 after acquiring an additional 170,632 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Norbord by 39.7% during the 2nd quarter. Wells Fargo & Company MN now owns 591,904 shares of the construction company’s stock worth $14,673,000 after acquiring an additional 168,093 shares during the period. 77.79% of the stock is owned by institutional investors.
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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