Norbord (OSB) Stock Rating Lowered by Zacks Investment Research
Norbord (NYSE:OSB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Norbord Inc. is a producer of wood-based panels. It operates primarily in the United States, Europe and Canada. Norbord Inc. is headquartered in Toronto, Canada. “
A number of other research firms have also weighed in on OSB. ValuEngine raised Norbord from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. TD Securities increased their price target on Norbord from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, February 5th. Finally, Bank of America set a $31.00 price target on Norbord and gave the company a “sell” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.40.
Norbord (NYSE:OSB) last released its quarterly earnings data on Friday, February 2nd. The construction company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. The firm had revenue of $596.00 million during the quarter. Norbord had a return on equity of 45.78% and a net margin of 20.03%. research analysts forecast that Norbord will post 3.63 EPS for the current year.
A number of institutional investors have recently made changes to their positions in OSB. Advisor Group Inc. boosted its stake in Norbord by 5,212.7% during the third quarter. Advisor Group Inc. now owns 2,922 shares of the construction company’s stock valued at $111,000 after buying an additional 2,867 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. bought a new position in Norbord during the fourth quarter valued at approximately $139,000. Parametric Portfolio Associates LLC bought a new position in Norbord during the second quarter valued at approximately $205,000. Raymond James Financial Services Advisors Inc. bought a new position in Norbord during the fourth quarter valued at approximately $242,000. Finally, Dimensional Fund Advisors LP bought a new position in Norbord during the second quarter valued at approximately $260,000. 78.67% of the stock is owned by institutional investors.
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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.
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