Shares of Norbord Inc (NYSE:OSB) have earned a consensus rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $36.67.
OSB has been the subject of several research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Norbord in a research report on Friday, November 1st. CIBC raised their target price on Norbord from $30.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. ValuEngine cut Norbord from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 4th. Zacks Investment Research raised Norbord from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday, January 2nd. Finally, Raymond James raised Norbord from an “outperform” rating to a “strong-buy” rating and set a $43.00 target price for the company in a research report on Thursday, October 31st.
A number of hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Norbord by 37.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,021 shares of the construction company’s stock worth $72,000 after acquiring an additional 817 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Norbord by 2,057.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,013 shares of the construction company’s stock worth $96,000 after acquiring an additional 3,827 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Norbord during the third quarter worth $101,000. Weiss Asset Management LP raised its stake in Norbord by 30.1% during the second quarter. Weiss Asset Management LP now owns 11,537 shares of the construction company’s stock worth $286,000 after acquiring an additional 2,667 shares in the last quarter. Finally, MidWestOne Financial Group Inc. acquired a new position in Norbord during the second quarter worth $731,000. 77.79% of the stock is owned by hedge funds and other institutional investors.
Norbord (NYSE:OSB) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $443.09 million. Norbord had a negative net margin of 3.12% and a positive return on equity of 0.91%. The firm’s revenue was down 32.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 earnings per share. Analysts expect that Norbord will post -0.17 EPS for the current fiscal year.
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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