Norbord (OSB) Price Target Raised to C$53.00 at CIBC

Norbord (TSE:OSB) had its price target raised by CIBC from C$50.00 to C$53.00 in a research report report published on Tuesday.

A number of other equities analysts have also recently commented on OSB. BMO Capital Markets set a C$32.00 target price on Norbord and gave the stock an underperform rating in a report on Friday, February 9th. Alex. Brown raised their price target on Norbord from C$65.00 to C$66.00 in a report on Tuesday, April 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of C$51.88.

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Shares of Norbord stock opened at C$53.67 on Tuesday. Norbord has a one year low of C$38.00 and a one year high of C$53.94.

Norbord (TSE:OSB) last announced its earnings results on Friday, February 2nd. The company reported C$1.79 EPS for the quarter, topping the Zacks’ consensus estimate 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 company 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. Shareholders of record on Thursday, March 1st were issued a dividend of $0.60 per share. 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 4.47%.

In other Norbord news, insider Peter Cornelius Wijnbergen sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$44.80, for a total transaction of C$448,000.00. Also, insider Nigel Banks sold 19,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of C$47.00, for a total value of C$893,000.00. Over the last three months, insiders have sold 36,000 shares of company stock worth $1,656,000.

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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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