Zacks Investment Research upgraded shares of Norbord (NYSE:OSB) from a sell rating to a strong-buy rating in a research note published on Thursday. Zacks Investment Research currently has $44.00 price target on the construction company’s stock.
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 research analysts also recently commented on OSB. TD Securities raised their target price on Norbord from $38.00 to $39.00 and gave the stock a hold rating in a research note on Monday, February 5th. ValuEngine upgraded Norbord from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Finally, Bank of America set a $31.00 target price on Norbord and gave the stock a sell rating in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Norbord currently has a consensus rating of Hold and an average target price of $40.20.
Shares of OSB opened at $38.50 on Thursday. Norbord has a fifty-two week low of $27.83 and a fifty-two week high of $41.88. The stock has a market capitalization of $3,328.09, a P/E ratio of 8.57, a PEG ratio of 1.26 and a beta of 2.67. The company has a quick ratio of 1.20, a current ratio of 1.83 and a debt-to-equity ratio of 0.54.
Norbord (NYSE:OSB) last announced its quarterly earnings data on Friday, February 2nd. The construction company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.03. Norbord had a return on equity of 45.78% and a net margin of 20.03%. The company had revenue of $596.00 million during the quarter. sell-side analysts expect that Norbord will post 3.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Thursday, March 1st were paid a $0.4862 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.94 annualized dividend and a yield of 5.05%. This is an increase from Norbord’s previous quarterly dividend of $0.47. Norbord’s dividend payout ratio (DPR) is currently 41.65%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. bought a new position in Norbord in the 4th quarter worth about $139,000. Raymond James Financial Services Advisors Inc. bought a new position in Norbord in the 4th quarter worth about $242,000. Dimensional Fund Advisors LP bought a new position in Norbord in the 2nd quarter worth about $260,000. Citadel Advisors LLC bought a new position in Norbord in the 4th quarter worth about $289,000. Finally, Legal & General Group Plc boosted its stake in Norbord by 59.3% in the 3rd quarter. Legal & General Group Plc now owns 7,789 shares of the construction company’s stock worth $296,000 after purchasing an additional 2,900 shares during the period. Institutional investors and hedge funds own 78.67% of the company’s stock.
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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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