Scotiabank Raises Norbord Inc (OSB) Price Target to C$51.00
Norbord Inc (TSE:OSB) had its price target upped by Scotiabank from C$45.25 to C$51.00 in a research note issued to investors on Monday morning. Scotiabank currently has an outperform rating on the stock.
Several other equities analysts have also commented on OSB. Canaccord Genuity upgraded shares of Norbord from a neutral rating to an outperform rating and upped their price target for the stock from C$43.00 to C$47.00 in a research report on Tuesday, June 6th. Royal Bank Of Canada restated a top pick rating on shares of Norbord in a research report on Wednesday, June 7th. CSFB upped their price target on shares of Norbord from C$42.00 to C$50.00 and gave the stock an outperform rating in a research report on Monday, July 31st. BMO Capital Markets upped their price target on shares of Norbord from C$28.00 to C$31.00 and gave the stock a market perform rating in a research report on Monday, July 31st. Finally, TD Securities upped their price target on shares of Norbord from C$37.00 to C$48.00 and gave the stock a buy rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of C$47.75.
Shares of Norbord (OSB) opened at 51.22 on Monday. The stock has a 50 day moving average of $43.26 and a 200 day moving average of $40.57. Norbord has a 1-year low of $28.91 and a 1-year high of $51.75. The firm has a market cap of $4.41 billion and a PE ratio of 16.85.
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The company also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Friday, September 1st were given a dividend of $0.398 per share. The ex-dividend date was Wednesday, August 30th. This represents a $1.59 annualized dividend and a dividend yield of 3.13%. This is a positive change from Norbord’s previous quarterly dividend of $0.30.
In related news, insider Nigel Banks sold 19,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of C$42.00, for a total value of C$798,000.00. Also, Director Houston Paul sold 21,378 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of C$46.80, for a total transaction of C$1,000,490.40. Insiders have sold 170,123 shares of company stock valued at $7,478,112 in the last 90 days.
Norbord Company Profile
Norbord Inc is a Canada-based producer of wood-based panels. The Company is engaged in manufacturing, sales, marketing and distribution of panelboards and related products used in the construction of new homes or the renovation and repair of existing structures. Its geographic segments include North America and Europe.
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