Norbord (OSB) Upgraded to Hold by Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Norbord (NYSE:OSB) from a sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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. “

OSB has been the subject of a number of other reports. Royal Bank of Canada cut Norbord from a top pick rating to an outperform rating in a report on Monday, February 4th. CIBC cut Norbord from a neutral rating to a sector underperform rating in a report on Monday, January 14th. TD Securities raised their target price on Norbord from $32.00 to $34.00 and gave the company a buy rating in a report on Monday, February 4th. Raymond James lowered Norbord from a strong-buy rating to an outperform rating in a research report on Tuesday, January 22nd. Finally, ValuEngine lowered Norbord from a sell rating to a strong sell rating in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $34.50.

Norbord stock traded down $0.14 during midday trading on Tuesday, reaching $25.20. 16,293 shares of the stock traded hands, compared to its average volume of 185,944. Norbord has a 12-month low of $23.30 and a 12-month high of $45.45. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 5.32, a price-to-earnings-growth ratio of 2.06 and a beta of 1.71. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.40 and a quick ratio of 0.80.

Norbord (NYSE:OSB) last announced its earnings results on Thursday, May 2nd. The construction company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). Norbord had a net margin of 15.31% and a return on equity of 39.63%. The firm had revenue of $476.00 million for the quarter, compared to analysts’ expectations of $462.00 million. Equities research analysts anticipate that Norbord will post 2.05 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of OSB. Norges Bank acquired a new stake in Norbord in the 4th quarter valued at about $37,815,000. Letko Brosseau & Associates Inc. raised its position in shares of Norbord by 10.0% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 5,177,944 shares of the construction company’s stock worth $137,619,000 after acquiring an additional 469,233 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Norbord by 501.0% during the 4th quarter. Mackenzie Financial Corp now owns 372,315 shares of the construction company’s stock worth $9,900,000 after acquiring an additional 310,368 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Norbord by 1,698.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 188,491 shares of the construction company’s stock worth $6,250,000 after acquiring an additional 178,009 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Norbord by 25.0% during the 4th quarter. APG Asset Management N.V. now owns 701,000 shares of the construction company’s stock worth $16,298,000 after acquiring an additional 140,300 shares in the last quarter. 82.64% of the stock is currently owned by institutional investors.

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.

Featured Story: What is channel trading?

Get a free copy of the Zacks research report on Norbord (OSB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Norbord (NYSE:OSB)

Receive News & Ratings for Norbord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norbord and related companies with MarketBeat.com's FREE daily email newsletter.