Norbord (OSB) Price Target Raised to C$66.00 at Alex. Brown

Norbord (TSE:OSB) had its price target upped by Alex. Brown from C$65.00 to C$66.00 in a report released on Tuesday, April 10th.

Other analysts have also issued research reports about the stock. CIBC raised their target price on shares of Norbord from C$45.00 to C$50.00 in a research report on Monday, March 19th. BMO Capital Markets set a C$32.00 target price on shares of Norbord and gave the company an underperform rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of C$51.88.

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TSE OSB opened at C$53.67 on Tuesday. Norbord has a 1 year low of C$38.00 and a 1 year high of C$53.94.

Norbord (TSE:OSB) last posted its quarterly earnings results on Friday, February 2nd. The company reported C$1.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of C$756.97 million during the quarter.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Thursday, March 1st were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Wednesday, February 28th.

In related news, insider Nigel Banks sold 19,000 shares of the business’s stock in a transaction that occurred 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. Also, insider Peter Cornelius Wijnbergen sold 10,000 shares of the business’s stock in a transaction that occurred 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. Insiders have sold a total of 36,000 shares of company stock worth $1,656,000 over the last 90 days.

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About Norbord

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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