Royal Bank of Canada Reaffirms Average Rating for Norbord (NYSE:OSB)

Share on StockTwits

Royal Bank of Canada reiterated their average rating on shares of Norbord (NYSE:OSB) in a research note issued to investors on Tuesday, reports. Royal Bank of Canada currently has a $40.00 target price on the construction company’s stock.

Several other research analysts also recently weighed in on the company. Raymond James set a $60.00 price target on Banner and gave the company a buy rating in a report on Friday, May 3rd. CIBC increased their price target on Stella-Jones from C$51.00 to C$53.00 in a report on Tuesday, May 7th. TD Securities decreased their price objective on shares of TRANSAT AT from C$15.00 to C$11.00 and set a hold rating for the company in a research report on Friday, May 3rd. TheStreet cut shares of Twin Disc from a b- rating to a c+ rating in a research report on Tuesday, June 11th. Finally, Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research report on Thursday, July 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Norbord presently has a consensus rating of Buy and a consensus target price of $36.29.

Shares of NYSE OSB opened at $23.77 on Tuesday. The stock has a market cap of $1.94 billion, a P/E ratio of 5.04 and a beta of 2.07. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.80 and a quick ratio of 0.85. The business’s 50-day simple moving average is $22.61. Norbord has a 1 year low of $19.46 and a 1 year high of $44.15.

Norbord (NYSE:OSB) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.06). Norbord had a net margin of 11.92% and a return on equity of 32.42%. The company had revenue of $476.00 million during the quarter, compared to analyst estimates of $462.00 million. Equities analysts anticipate that Norbord will post 1.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Saturday, June 1st were issued a dividend of $0.299 per share. The ex-dividend date was Thursday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.03%. Norbord’s payout ratio is 25.00%.

Large investors have recently bought and sold shares of the company. Letko Brosseau & Associates Inc. raised its stake in shares of Norbord by 0.9% in the first quarter. Letko Brosseau & Associates Inc. now owns 5,223,949 shares of the construction company’s stock worth $143,977,000 after acquiring an additional 46,005 shares during the last quarter. Norges Bank acquired a new position in shares of Norbord in the fourth quarter valued at approximately $37,815,000. TD Asset Management Inc. boosted its holdings in shares of Norbord by 21.1% in the first quarter. TD Asset Management Inc. now owns 806,301 shares of the construction company’s stock valued at $22,222,000 after buying an additional 140,535 shares during the period. Pictet Asset Management Ltd. boosted its holdings in shares of Norbord by 13.3% in the first quarter. Pictet Asset Management Ltd. now owns 720,784 shares of the construction company’s stock valued at $19,866,000 after buying an additional 84,467 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in Norbord by 25.0% during the fourth quarter. APG Asset Management N.V. now owns 701,000 shares of the construction company’s stock worth $16,298,000 after purchasing an additional 140,300 shares during the last quarter. Institutional investors own 79.10% of the company’s stock.

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.

See Also: What is meant by buying and selling pressure?

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's FREE daily email newsletter.