Norbord Inc. (OSB) Lifted to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Norbord Inc. (NYSE:OSB) from a buy rating to a strong-buy rating in a report released on Friday, June 30th.

Several other analysts have also issued reports on the stock. BMO Capital Markets restated a hold rating and issued a $28.00 price objective on shares of Norbord in a report on Wednesday, April 19th. Zacks Investment Research upgraded shares of Norbord from a hold rating to a strong-buy rating and set a $36.00 price target on the stock in a research note on Friday, June 30th. Finally, TD Securities reiterated a buy rating and set a $35.00 price target on shares of Norbord in a research note on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $33.50.

Shares of Norbord (NYSE:OSB) traded up 0.87% during trading on Friday, reaching $33.70. 17,785 shares of the company were exchanged. The stock’s 50 day moving average is $31.32 and its 200 day moving average is $29.13. Norbord has a 1-year low of $21.40 and a 1-year high of $35.51. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 11.09 and a beta of 3.91.

Norbord (NYSE:OSB) last issued its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by $0.01. The company had revenue of $536 million during the quarter. Norbord had a net margin of 11.30% and a return on equity of 32.88%. Equities analysts anticipate that Norbord will post $3.35 earnings per share for the current year.

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Several hedge funds have recently added to or reduced their stakes in OSB. Raymond James Financial Services Advisors Inc. purchased a new stake in Norbord during the first quarter worth $204,000. Hillsdale Investment Management Inc. raised its stake in Norbord by 65.1% in the first quarter. Hillsdale Investment Management Inc. now owns 546,000 shares of the construction company’s stock worth $15,512,000 after buying an additional 215,300 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in Norbord during the first quarter worth $409,000. Swiss National Bank raised its stake in Norbord by 1.9% in the first quarter. Swiss National Bank now owns 70,828 shares of the construction company’s stock worth $2,016,000 after buying an additional 1,300 shares during the last quarter. Finally, Renaissance Group LLC raised its stake in Norbord by 3.0% in the first quarter. Renaissance Group LLC now owns 14,483 shares of the construction company’s stock worth $413,000 after buying an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 28.17% of the company’s stock.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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