Zacks Investment Research Lowers Norbord (OSB) to Sell

Zacks Investment Research cut shares of Norbord (NYSE:OSB) from a strong-buy rating to a sell rating in a research note published on Friday.

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. “

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Other analysts have also recently issued reports about the company. ValuEngine upgraded Norbord from a buy rating to a strong-buy rating in a research report on Friday, February 2nd. Bank of America set a $31.00 price target on Norbord and gave the company a sell rating in a research report on Wednesday, January 24th. Finally, TD Securities upped their price target on Norbord from $38.00 to $39.00 and gave the company a hold rating in a research report on Monday, February 5th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $40.20.

OSB opened at $38.50 on Friday. The company has a market cap of $3,328.10, a PE ratio of 8.59, a PEG ratio of 1.26 and a beta of 2.64. The company has a current ratio of 1.83, a quick ratio of 1.20 and a debt-to-equity ratio of 0.54. Norbord has a 1 year low of $27.83 and a 1 year high of $41.88.

Norbord (NYSE:OSB) last released its quarterly earnings data on Friday, February 2nd. The construction company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.03. The business had revenue of $596.00 million for the quarter. Norbord had a return on equity of 45.78% and a net margin of 20.03%. research analysts predict that Norbord will post 3.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Thursday, March 1st were given a $0.4862 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 5.05%. This is a boost from Norbord’s previous quarterly dividend of $0.47. The ex-dividend date was Wednesday, February 28th. Norbord’s dividend payout ratio is 41.65%.

Large investors have recently made changes to their positions in the business. Schroder Investment Management Group bought a new stake in Norbord in the third quarter valued at $4,876,000. APG Asset Management N.V. grew its position in Norbord by 374.8% in the fourth quarter. APG Asset Management N.V. now owns 226,000 shares of the construction company’s stock valued at $6,392,000 after acquiring an additional 178,400 shares during the period. Bank of New York Mellon Corp bought a new stake in Norbord in the third quarter valued at $319,000. Vertex One Asset Management Inc. bought a new stake in Norbord in the fourth quarter valued at $339,000. Finally, OxFORD Asset Management LLP grew its holdings in shares of Norbord by 136.3% during the third quarter. OxFORD Asset Management LLP now owns 21,577 shares of the construction company’s stock worth $830,000 after purchasing an additional 12,447 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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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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