Norbord Inc (OSB) Receives Consensus Rating of “Buy” from Analysts
Shares of Norbord Inc (TSE:OSB) have received a consensus rating of “Buy” from the eight research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$50.00.
A number of equities research analysts have recently weighed in on OSB shares. CSFB boosted their price target on Norbord from C$50.00 to C$54.00 in a research note on Friday, October 20th. CIBC boosted their price target on Norbord from C$53.00 to C$54.00 in a research note on Thursday, October 19th. TD Securities boosted their price target on Norbord from C$37.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BMO Capital Markets boosted their price target on Norbord from C$28.00 to C$31.00 and gave the stock a “market perform” rating in a research note on Monday, July 31st. Finally, Scotiabank restated an “outperform” rating and set a C$55.00 price target on shares of Norbord in a research note on Tuesday, October 17th.
Shares of Norbord (TSE:OSB) traded down C$0.42 during mid-day trading on Thursday, hitting C$44.52. The stock had a trading volume of 527,639 shares, compared to its average volume of 230,452. Norbord has a 1-year low of C$31.38 and a 1-year high of C$51.75.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 1st will be paid a dividend of $0.60 per share. This is a positive change from Norbord’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, November 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.39%. Norbord’s payout ratio is presently 15.47%.
In related news, Director Barrie Shineton sold 5,700 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of C$44.85, for a total value of C$255,645.00. Also, insider Robin E.A. Lampard sold 51,300 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of C$43.00, for a total value of C$2,205,900.00. Insiders have sold 170,123 shares of company stock worth $7,478,112 in the last 90 days.
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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