Norbord (OSB) Rating Increased to Sell at ValuEngine

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Norbord (NYSE:OSB) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Thursday.

Other research analysts also recently issued reports about the stock. BMO Capital Markets upgraded shares of Norbord from an “underperform” rating to a “market perform” rating and set a $26.00 target price on the stock in a research report on Monday, October 22nd. TD Securities upgraded shares of Norbord from a “hold” rating to a “buy” rating and upped their target price for the company from $31.00 to $33.00 in a research report on Friday, November 2nd. Seaport Global Securities began coverage on shares of Norbord in a research report on Tuesday, October 23rd. They set a “buy” rating and a $32.00 target price on the stock. Bank of America upgraded shares of Norbord from an “underperform” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Monday, November 5th. They noted that the move was a valuation call. Finally, Vertical Research upgraded shares of Norbord from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Norbord has a consensus rating of “Hold” and a consensus target price of $37.14.

Norbord stock opened at $26.49 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.27 and a current ratio of 2.00. Norbord has a 1 year low of $24.29 and a 1 year high of $45.45. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 4.64, a price-to-earnings-growth ratio of 1.06 and a beta of 2.68.

Norbord (NYSE:OSB) last released its earnings results on Thursday, November 1st. The construction company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.34. Norbord had a net margin of 22.19% and a return on equity of 46.76%. The company had revenue of $640.00 million for the quarter, compared to the consensus estimate of $586.42 million. During the same period in the prior year, the company posted $1.50 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that Norbord will post 4.26 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Raymond James & Associates raised its position in shares of Norbord by 12.9% in the 2nd quarter. Raymond James & Associates now owns 36,062 shares of the construction company’s stock valued at $1,483,000 after acquiring an additional 4,118 shares during the period. Schroder Investment Management Group raised its position in shares of Norbord by 22.3% in the 2nd quarter. Schroder Investment Management Group now owns 681,144 shares of the construction company’s stock valued at $36,563,000 after acquiring an additional 124,217 shares during the period. BlackRock Inc. raised its position in shares of Norbord by 27.0% in the 2nd quarter. BlackRock Inc. now owns 53,621 shares of the construction company’s stock valued at $2,205,000 after acquiring an additional 11,391 shares during the period. Highstreet Asset Management Inc. raised its position in shares of Norbord by 2,025.7% in the 2nd quarter. Highstreet Asset Management Inc. now owns 4,294 shares of the construction company’s stock valued at $177,000 after acquiring an additional 4,092 shares during the period. Finally, KAMES CAPITAL plc acquired a new stake in shares of Norbord in the 3rd quarter valued at approximately $705,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.

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Analyst Recommendations for Norbord (NYSE:OSB)

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