Norbord Inc. (OSB) Cut to “Underperform” at BMO Capital Markets

Norbord Inc. (NYSE:OSB) was downgraded by BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research report issued on Friday. They presently have a $32.00 price objective on the construction company’s stock, up from their prior price objective of $31.00. BMO Capital Markets’ price target points to a potential downside of 22.57% from the stock’s previous close. The analysts noted that the move was a valuation call.

Other equities research analysts also recently issued research reports about the company. Credit Suisse Group upgraded Norbord from a “neutral” rating to an “outperform” rating in a research report on Monday, July 31st. Vertical Research downgraded Norbord from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. TD Securities increased their price objective on Norbord from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. ValuEngine upgraded Norbord from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research downgraded Norbord from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.05.

Norbord (NYSE:OSB) opened at 41.33 on Friday. Norbord has a one year low of $21.40 and a one year high of $41.36. The firm has a market capitalization of $3.56 billion, a PE ratio of 13.60 and a beta of 3.99. The firm has a 50-day moving average price of $37.97 and a 200 day moving average price of $37.97.

Norbord (NYSE:OSB) last posted its quarterly earnings results on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.01). Norbord had a return on equity of 37.87% and a net margin of 13.52%. The company had revenue of $536.00 million during the quarter. Analysts anticipate that Norbord will post $4.06 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its position in shares of Norbord by 4.2% in the second quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock worth $152,000 after buying an additional 198 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Norbord in the first quarter worth $204,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Norbord in the second quarter worth $205,000. Comerica Bank purchased a new stake in shares of Norbord in the second quarter worth $233,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Norbord in the second quarter worth $260,000. Institutional investors own 80.86% of the company’s stock.

Norbord Company Profile

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)




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