Norbord (TSE:OSB) Price Target Raised to C$66.00

Norbord (TSE:OSB) had its price target raised by Raymond James Financial from C$65.00 to C$66.00 in a research report released on Tuesday, April 10th.

Several other research analysts also recently commented on OSB. CIBC raised their price objective on Norbord from C$45.00 to C$50.00 in a research note on Monday, March 19th. BMO Capital Markets set a C$32.00 price target on Norbord and gave the company an underperform rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Norbord has a consensus rating of Buy and an average price target of C$51.88.

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OSB stock traded up C$1.77 during midday trading on Tuesday, hitting C$53.22. The company had a trading volume of 255,222 shares, compared to its average volume of 350,580. Norbord has a 52 week low of C$38.00 and a 52 week high of C$53.50.

Norbord (TSE:OSB) last released its earnings results on Friday, February 2nd. The company reported C$1.79 EPS for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.06. Norbord had a return on equity of 66.95% and a net margin of 26.85%. The firm had revenue of C$756.97 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Thursday, March 1st were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%.

In other news, insider Peter Cornelius Wijnbergen purchased 10,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of C$9.96 per share, for a total transaction of C$99,600.00. Also, insider Nigel Banks sold 19,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of C$47.00, for a total value of C$893,000.00. Insiders have sold 36,000 shares of company stock valued at $1,656,000 in the last three months.

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About Norbord

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.

Analyst Recommendations for Norbord (TSE:OSB)

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