Raymond James reiterated their strong-buy rating on shares of Norbord (TSE:OSB) in a research report released on Friday morning. Raymond James currently has a C$60.00 price target on the stock.
Several other analysts have also recently weighed in on OSB. Seaport Global Securities reissued a buy rating on shares of Norbord in a report on Tuesday, October 23rd. CIBC lifted their price target on Norbord from C$56.00 to C$59.00 in a report on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Norbord currently has a consensus rating of Buy and an average target price of C$47.13.
OSB opened at C$37.89 on Friday. Norbord has a 12-month low of C$31.87 and a 12-month high of C$58.92.
Norbord (TSE:OSB) last released its quarterly earnings results on Thursday, November 1st. The company reported C$1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.29 by C$0.55. The firm had revenue of C$836.42 million for the quarter, compared to analyst estimates of C$789.49 million.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Saturday, December 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $2.40 annualized dividend and a yield of 6.33%.
In other Norbord news, insider Peter Cornelius Wijnbergen sold 6,500 shares of Norbord stock in a transaction on Friday, September 14th. The stock was sold at an average price of C$52.50, for a total value of C$341,250.00.
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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