Norbord (NYSE:OSB) Downgraded by ValuEngine

Norbord (NYSE:OSB) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Wednesday, ValuEngine reports.

A number of other equities analysts also recently issued reports on the stock. CIBC raised their price objective on shares of Norbord from $30.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. TD Securities raised their target price on shares of Norbord from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded shares of Norbord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Raymond James upgraded shares of Norbord from an “outperform” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Thursday, October 31st. Finally, Vertical Research cut shares of Norbord from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.00.

Shares of OSB traded up $0.12 on Wednesday, reaching $26.82. The company’s stock had a trading volume of 213,146 shares, compared to its average volume of 180,897. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.80 and a quick ratio of 0.91. The stock has a market capitalization of $2.31 billion, a P/E ratio of 5.68 and a beta of 1.99. The stock’s 50 day simple moving average is $27.93 and its two-hundred day simple moving average is $24.22. Norbord has a 12-month low of $19.46 and a 12-month high of $30.46.

Norbord (NYSE:OSB) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The business had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $443.09 million. Norbord had a positive return on equity of 0.91% and a negative net margin of 3.12%. The business’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. Analysts expect that Norbord will post -0.25 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OSB. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Norbord by 37.1% during the 3rd 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 during the period. Tower Research Capital LLC TRC raised its stake in Norbord by 2,057.5% during the 3rd 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 during the period. Point72 Asset Management L.P. bought a new stake in Norbord during the 3rd quarter worth approximately $101,000. Advantage Investment Management LLC raised its stake in Norbord by 16.2% during the 2nd quarter. Advantage Investment Management LLC now owns 10,404 shares of the construction company’s stock worth $258,000 after acquiring an additional 1,454 shares during the period. Finally, Weiss Asset Management LP raised its stake in Norbord by 30.1% during the 2nd 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 during the period. Institutional investors own 77.79% 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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