Norbord (OSB) Upgraded at ValuEngine

Norbord (NYSE:OSB) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research cut Norbord from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.29.

Shares of OSB stock opened at $40.09 on Thursday. Norbord has a 12-month low of $32.22 and a 12-month high of $45.45. The company has a current ratio of 2.69, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.64 billion, a PE ratio of 7.22, a PEG ratio of 1.23 and a beta of 2.30.

Norbord (NYSE:OSB) last issued its earnings results on Thursday, August 2nd. The construction company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.31. Norbord had a return on equity of 48.17% and a net margin of 22.75%. The firm had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $682.27 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The business’s revenue was up 31.9% compared to the same quarter last year. analysts predict that Norbord will post 5.7 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in Norbord by 0.3% during the second quarter. Renaissance Technologies LLC now owns 410,600 shares of the construction company’s stock worth $16,884,000 after acquiring an additional 1,400 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Norbord by 18.2% during the first quarter. Cubist Systematic Strategies LLC now owns 10,747 shares of the construction company’s stock worth $390,000 after acquiring an additional 1,654 shares during the last quarter. AMP Capital Investors Ltd increased its stake in Norbord by 8.0% during the second quarter. AMP Capital Investors Ltd now owns 28,254 shares of the construction company’s stock worth $1,161,000 after acquiring an additional 2,100 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in Norbord by 32.4% during the second quarter. Institute for Wealth Management LLC. now owns 13,706 shares of the construction company’s stock worth $551,000 after acquiring an additional 3,352 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Norbord by 34.9% during the second quarter. Voya Investment Management LLC now owns 12,964 shares of the construction company’s stock worth $533,000 after acquiring an additional 3,353 shares during the last quarter. 76.86% of the stock is currently owned by hedge funds and other institutional investors.

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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