Vertical Research Upgrades Norbord (OSB) to “Buy”

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Norbord (NYSE:OSB) was upgraded by Vertical Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.

A number of other equities analysts have also recently commented on OSB. ValuEngine cut Norbord from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Zacks Investment Research cut Norbord from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 19th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.29.

NYSE OSB opened at $27.27 on Thursday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 6.07, a price-to-earnings-growth ratio of 0.97 and a beta of 2.41. Norbord has a twelve month low of $26.61 and a twelve month high of $45.45. The company has a quick ratio of 1.83, a current ratio of 2.69 and a debt-to-equity ratio of 0.46.

Norbord (NYSE:OSB) last announced its earnings results on Thursday, August 2nd. The construction company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.31. Norbord had a return on equity of 48.17% and a net margin of 22.75%. The business had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $682.27 million. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The business’s revenue was up 31.9% compared to the same quarter last year. As a group, equities research analysts expect that Norbord will post 5.7 EPS for the current year.

Several institutional investors have recently made changes to their positions in OSB. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Norbord by 5.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,727,194 shares of the construction company’s stock valued at $112,077,000 after purchasing an additional 146,300 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Norbord by 24.4% in the second quarter. Acadian Asset Management LLC now owns 2,337,800 shares of the construction company’s stock valued at $96,071,000 after purchasing an additional 459,177 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Norbord by 14.2% in the first quarter. Royal Bank of Canada now owns 1,952,515 shares of the construction company’s stock valued at $70,935,000 after purchasing an additional 243,274 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Norbord by 62.8% in the second quarter. TD Asset Management Inc. now owns 931,503 shares of the construction company’s stock valued at $38,281,000 after purchasing an additional 359,456 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Norbord by 22.3% in the second quarter. Schroder Investment Management Group now owns 681,144 shares of the construction company’s stock valued at $36,563,000 after purchasing an additional 124,217 shares during the last quarter. 76.86% of the stock is owned by institutional investors and hedge funds.

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.

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