Norbord (NYSE:OSB) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Norbord (NYSE:OSB) from a sell rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Norbord Inc. is a producer of wood-based panels. It operates primarily in the United States, Europe and Canada. Norbord Inc. is headquartered in Toronto, Canada. “

Several other analysts also recently issued reports on OSB. Royal Bank of Canada reaffirmed a sector perform rating and issued a GBX 485 ($6.34) price objective on shares of in a research report on Tuesday. BMO Capital Markets reaffirmed a hold rating and issued a $9.50 price objective on shares of Vicon Industries in a research report on Friday, June 14th. CIBC increased their price objective on shares of Stella-Jones from C$51.00 to C$53.00 in a research report on Tuesday, May 7th. TheStreet downgraded shares of Twin Disc from a b- rating to a c+ rating in a research report on Tuesday, June 11th. Finally, Raymond James set a $60.00 price objective on shares of Banner and gave the company a buy rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Norbord currently has a consensus rating of Buy and an average target price of $36.29.

NYSE OSB opened at $23.54 on Wednesday. Norbord has a one year low of $19.46 and a one year high of $44.15. The firm has a 50 day simple moving average of $22.66. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.80 and a quick ratio of 0.85. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 6.58 and a beta of 2.07.

Norbord (NYSE:OSB) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.06). Norbord had a net margin of 11.92% and a return on equity of 32.42%. The firm had revenue of $476.00 million during the quarter, compared to analyst estimates of $462.00 million. As a group, sell-side analysts anticipate that Norbord will post 1.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Saturday, June 1st were given a dividend of $0.299 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Thursday, May 30th. Norbord’s payout ratio is currently 25.00%.

Hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Norbord during the first quarter worth approximately $45,000. Beutel Goodman & Co Ltd. acquired a new stake in shares of Norbord during the first quarter worth approximately $71,000. PNC Financial Services Group Inc. grew its position in shares of Norbord by 201.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,482 shares of the construction company’s stock worth $93,000 after buying an additional 2,325 shares in the last quarter. RBF Capital LLC acquired a new stake in shares of Norbord during the fourth quarter worth approximately $213,000. Finally, Great West Life Assurance Co. Can grew its position in shares of Norbord by 9.7% during the fourth quarter. Great West Life Assurance Co. Can now owns 9,739 shares of the construction company’s stock worth $252,000 after buying an additional 860 shares in the last quarter. 79.10% of the stock is owned by institutional investors and hedge funds.

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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