Norbord (OSB) PT Raised to C$53.00 at CIBC

Norbord (TSE:OSB) had its price objective boosted by CIBC from C$50.00 to C$53.00 in a research report report published on Tuesday.

A number of other equities research analysts also recently issued reports on the stock. Raymond James boosted their price objective on shares of Norbord from C$65.00 to C$66.00 in a research report on Tuesday, April 10th. BMO Capital Markets set a C$32.00 price objective on shares of Norbord and gave the company an underperform rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of C$51.88.

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TSE:OSB opened at C$52.84 on Tuesday. Norbord has a 12 month low of C$38.00 and a 12 month high of C$53.94.

Norbord (TSE:OSB) last posted its earnings results on Friday, February 2nd. The company reported C$1.79 EPS for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.06. Norbord had a net margin of 26.85% and a return on equity of 66.95%. The business had revenue of C$756.97 million during the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Thursday, March 1st were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Wednesday, February 28th.

In related news, insider Peter Cornelius Wijnbergen sold 10,000 shares of Norbord stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$44.80, for a total transaction of C$448,000.00. Also, insider Nigel Banks sold 19,000 shares of Norbord stock in a transaction on Thursday, March 15th. The shares were sold at an average price of C$47.00, for a total transaction of C$893,000.00. In the last 90 days, insiders have sold 36,000 shares of company stock worth $1,656,000.

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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.

Analyst Recommendations for Norbord (TSE:OSB)

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