Scotiabank reaffirmed their buy rating on shares of Norbord Inc. (NYSE:OSB) in a research report released on Tuesday. The brokerage currently has a $44.25 price target on the construction company’s stock.

OSB has been the subject of several other reports. Zacks Investment Research upgraded Norbord from a hold rating to a strong-buy rating and set a $36.00 price objective for the company in a report on Friday, June 30th. ValuEngine upgraded Norbord from a buy rating to a strong-buy rating in a research note on Friday, June 30th. Credit Suisse Group upgraded Norbord from a neutral rating to an outperform rating in a research note on Monday, July 31st. TD Securities restated a buy rating and set a $35.00 price target on shares of Norbord in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets set a $28.00 price target on Norbord and gave the company a hold rating in a research note on Friday, July 28th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $36.85.

Shares of Norbord (OSB) traded down 1.0365% during midday trading on Tuesday, hitting $34.1343. 24,051 shares of the stock traded hands. Norbord has a 52 week low of $21.40 and a 52 week high of $35.65. The firm has a 50-day moving average price of $32.95 and a 200-day moving average price of $30.21. The stock has a market capitalization of $2.94 billion, a P/E ratio of 11.2284 and a beta of 3.95.

Norbord (NYSE:OSB) last released its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by $0.01. Norbord had a return on equity of 37.87% and a net margin of 13.52%. The business had revenue of $536 million during the quarter. On average, equities analysts predict that Norbord will post $3.79 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Norbord’s (OSB) “Buy” Rating Reaffirmed at Scotiabank” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another site, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/30/norbords-osb-buy-rating-reaffirmed-at-scotiabank.html.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 1st will be given a dividend of $0.398 per share. This is a boost from Norbord’s previous quarterly dividend of $0.22. This represents a $1.59 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date is Wednesday, August 30th. Norbord’s payout ratio is presently 28.95%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its position in Norbord by 4.2% in the second quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock worth $152,000 after buying an additional 198 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Norbord during the first quarter worth $204,000. Parametric Portfolio Associates LLC bought a new position in Norbord during the second quarter worth $205,000. Comerica Bank bought a new position in Norbord during the second quarter worth $233,000. Finally, Dimensional Fund Advisors LP bought a new position in Norbord during the second quarter worth $260,000. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

About Norbord

Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers 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.

Analyst Recommendations for Norbord (NYSE:OSB)

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.