Brokerages Set Norbord Inc (NYSE:OSB) Price Target at $35.00
Norbord Inc (NYSE:OSB) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $34.33.
OSB has been the subject of several research analyst reports. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Raymond James reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Norbord in a report on Tuesday, July 16th. TheStreet lowered Twin Disc from a “b-” rating to a “c+” rating in a report on Tuesday, June 11th. TD Securities cut their price objective on TRANSAT AT from C$15.00 to C$11.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $9.50 price objective on shares of Vicon Industries in a report on Friday, June 14th.
Shares of OSB traded up $0.09 during trading hours on Tuesday, hitting $23.63. The stock had a trading volume of 78,159 shares, compared to its average volume of 142,655. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.80 and a quick ratio of 0.85. Norbord has a 12 month low of $19.46 and a 12 month high of $44.15. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 5.01 and a beta of 2.07. The firm has a fifty day moving average price of $23.04.
The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Saturday, June 1st were given a dividend of $0.299 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.20 annualized dividend and a yield of 5.06%. Norbord’s dividend payout ratio (DPR) is presently 25.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OSB. Truvestments Capital LLC purchased a new position in Norbord during the first quarter valued at $45,000. Beutel Goodman & Co Ltd. purchased a new position in Norbord during the first quarter valued at $71,000. PNC Financial Services Group Inc. lifted its position in Norbord by 201.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,482 shares of the construction company’s stock valued at $93,000 after purchasing an additional 2,325 shares in the last quarter. RBF Capital LLC purchased a new position in Norbord during the fourth quarter valued at $213,000. Finally, Great West Life Assurance Co. Can lifted its position in 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 valued at $252,000 after purchasing an additional 860 shares in the last quarter. Institutional investors own 79.10% of the company’s stock.
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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