Equities research analysts at Bank of America Corporation began coverage on shares of Norbord Inc. (NYSE:OSB) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating and a $41.00 price target on the construction company’s stock. Bank of America Corporation’s price objective suggests a potential upside of 7.56% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Norbord from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Friday, June 30th. ValuEngine raised shares of Norbord from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. BMO Capital Markets set a $28.00 target price on shares of Norbord and gave the company a “hold” rating in a research report on Friday, July 28th. Credit Suisse Group upgraded shares of Norbord from a “neutral” rating to an “outperform” rating in a research note on Monday, July 31st. Finally, TD Securities lifted their price target on shares of Norbord from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Norbord presently has a consensus rating of “Buy” and an average price target of $37.71.

Norbord (NYSE OSB) traded up 2.322% during mid-day trading on Monday, hitting $39.005. The stock had a trading volume of 49,877 shares. Norbord has a 1-year low of $21.40 and a 1-year high of $41.88. The stock has a market cap of $3.36 billion, a PE ratio of 12.831 and a beta of 4.01. The firm’s 50-day moving average price is $37.97 and its 200-day moving average price is $37.97.

Norbord (NYSE:OSB) last posted its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.01). Norbord had a net margin of 13.52% and a return on equity of 37.87%. The firm had revenue of $536.00 million during the quarter. On average, equities analysts expect that Norbord will post $4.08 earnings per share for the current year.

WARNING: “Norbord Inc. (OSB) Coverage Initiated by Analysts at Bank of America Corporation” was posted by Watch List News and is the property of of Watch List News. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.watchlistnews.com/norbord-inc-osb-receives-new-coverage-from-analysts-at-bank-of-america-corporation/1602887.html.

Several hedge funds and other institutional investors have recently made changes to their positions in OSB. Legal & General Group Plc lifted its holdings in Norbord by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock worth $152,000 after purchasing an additional 198 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Norbord in the 1st quarter worth approximately $204,000. Parametric Portfolio Associates LLC purchased a new stake in Norbord in the 2nd quarter worth approximately $205,000. Comerica Bank purchased a new stake in Norbord in the 2nd quarter worth approximately $233,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Norbord in the 2nd quarter worth approximately $260,000. Institutional investors own 80.86% of the company’s stock.

About Norbord

Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers 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.

Analyst Recommendations for Norbord (NYSE:OSB)

Receive News & Ratings for Norbord Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norbord Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.