Norbord Inc. (OSB) Cut to Hold at Zacks Investment Research
Norbord Inc. (NYSE:OSB) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.
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. “
Other research analysts have also recently issued reports about the company. TheStreet raised Norbord from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. BMO Capital Markets cut Norbord from an “outperform” rating to a “market perform” rating and set a $26.00 price target for the company. in a research report on Monday, August 8th. They noted that the move was a valuation call.
Shares of Norbord (NYSE:OSB) opened at 24.53 on Wednesday. The stock’s 50 day moving average price is $24.42 and its 200 day moving average price is $21.86. The firm has a market cap of $2.10 billion and a price-to-earnings ratio of 29.88. Norbord has a one year low of $15.12 and a one year high of $25.98.
Norbord (NYSE:OSB) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. On average, equities analysts anticipate that Norbord will post $1.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Thursday, September 1st were paid a $0.0766 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.31 annualized dividend and a yield of 1.25%.
Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its stake in Norbord by 0.5% in the second quarter. Jane Street Group LLC now owns 14,910 shares of the company’s stock valued at $294,000 after buying an additional 73 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Norbord by 0.3% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 350,700 shares of the company’s stock valued at $8,859,000 after buying an additional 1,200 shares in the last quarter. Quadrature Capital Ltd raised its stake in Norbord by 11.0% in the second quarter. Quadrature Capital Ltd now owns 20,420 shares of the company’s stock valued at $397,000 after buying an additional 2,020 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Norbord during the second quarter valued at about $170,000. Finally, Counsel Portfolio Services Inc. acquired a new stake in Norbord during the second quarter valued at about $292,000. Hedge funds and other institutional investors own 25.76% of the company’s stock.
Receive News & Stock Ratings for Norbord Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norbord Inc. and related stocks with our FREE daily email newsletter.