Norbord (NYSE:OSB) Raised to “Outperform” at BMO Capital Markets

Norbord (NYSE:OSB) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $28.00 price target on the construction company’s stock, up from their previous price target of $26.00. BMO Capital Markets’ price target indicates a potential upside of 19.50% from the stock’s current price.

A number of other research analysts have also recently issued reports on OSB. Zacks Investment Research cut Norbord from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. ValuEngine cut Norbord from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. TD Securities decreased their target price on Norbord from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Raymond James reiterated a “buy” rating and issued a $45.00 target price on shares of Norbord in a research report on Friday, May 3rd. Finally, CIBC upgraded Norbord from a “sector underperform” rating to a “neutral” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $35.67.

Norbord stock opened at $23.43 on Friday. Norbord has a 12-month low of $19.46 and a 12-month high of $44.15. The company has a current ratio of 1.80, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 4.96 and a beta of 1.90.

Norbord (NYSE:OSB) last released its earnings results on Thursday, May 2nd. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $476.00 million during the quarter, compared to the consensus estimate of $462.00 million. As a group, equities analysts anticipate that Norbord will post 1.7 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. RBF Capital LLC bought a new stake in shares of Norbord during the fourth quarter worth about $213,000. Formula Growth Ltd. bought a new stake in shares of Norbord during the first quarter worth about $7,439,000. TD Asset Management Inc. grew its holdings in shares of Norbord by 21.1% during the first quarter. TD Asset Management Inc. now owns 806,301 shares of the construction company’s stock worth $22,222,000 after purchasing an additional 140,535 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Norbord by 28.2% during the third quarter. JPMorgan Chase & Co. now owns 116,047 shares of the construction company’s stock worth $3,849,000 after purchasing an additional 25,553 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Norbord by 33.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,896 shares of the construction company’s stock worth $77,000 after purchasing an additional 721 shares during the last quarter. Institutional investors own 79.11% 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.

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Analyst Recommendations for Norbord (NYSE:OSB)

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