CIBC Trims Norbord Inc (OSB) Target Price to C$50.00
OSB has been the subject of a number of other reports. TD Securities lowered their price target on shares of Norbord to C$50.00 and set a hold rating for the company in a report on Tuesday. BMO Capital Markets raised their price target on shares of Norbord from C$28.00 to C$31.00 and gave the company a market perform rating in a report on Monday, July 31st. CSFB raised their price target on shares of Norbord from C$50.00 to C$54.00 in a report on Friday, October 20th. Scotiabank reaffirmed an outperform rating and set a C$55.00 price target on shares of Norbord in a report on Tuesday, October 17th. Finally, Royal Bank Of Canada raised their price target on shares of Norbord from C$50.00 to C$58.00 and gave the company a top pick rating in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of C$50.00.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 1st will be issued a dividend of $0.60 per share. This is a positive change from Norbord’s previous quarterly dividend of $0.40. This represents a $2.40 annualized dividend and a yield of Infinity. The ex-dividend date is Thursday, November 30th.
In other Norbord news, Director Houston Paul sold 3,245 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of C$45.17, for a total transaction of C$146,576.65. Also, Director Barrie Shineton sold 5,700 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of C$44.85, for a total transaction of C$255,645.00. Over the last three months, insiders have sold 170,123 shares of company stock valued at $7,478,112.
Norbord Inc is a Canada-based producer of wood-based panels. The Company is engaged in manufacturing, sales, marketing and distribution of panelboards and related products used in the construction of new homes or the renovation and repair of existing structures. Its geographic segments include North America and Europe.
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