Zacks Investment Research Lowers Norbord (OSB) to Sell

Zacks Investment Research cut shares of Norbord (NYSE:OSB) from a hold rating to a sell rating in a research report report published on Wednesday.

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. “

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A number of other equities research analysts have also weighed in on the company. TD Securities boosted their price target on Norbord from $38.00 to $39.00 and gave the stock a hold rating in a research note on Monday, February 5th. ValuEngine upgraded Norbord from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Finally, Bank of America set a $31.00 price target on Norbord and gave the stock a sell rating in a research note on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $39.40.

NYSE:OSB opened at $36.33 on Wednesday. Norbord has a 1 year low of $27.75 and a 1 year high of $41.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.20 and a current ratio of 1.83. The stock has a market capitalization of $3,140.51, a price-to-earnings ratio of 8.11, a P/E/G ratio of 1.17 and a beta of 3.19.

Norbord (NYSE:OSB) last posted its earnings results on Friday, February 2nd. The construction company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.03. Norbord had a return on equity of 45.78% and a net margin of 20.03%. The company had revenue of $596.00 million for the quarter. sell-side analysts predict that Norbord will post 3.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Thursday, March 1st were paid a dividend of $0.4862 per share. This is a positive change from Norbord’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.35%. Norbord’s payout ratio is presently 41.65%.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Norbord by 4.3% during the fourth quarter. BlackRock Inc. now owns 38,096 shares of the construction company’s stock worth $1,288,000 after purchasing an additional 1,588 shares during the period. Bank of New York Mellon Corp lifted its holdings in Norbord by 22.7% in the fourth quarter. Bank of New York Mellon Corp now owns 10,273 shares of the construction company’s stock valued at $348,000 after acquiring an additional 1,901 shares during the period. Swiss National Bank lifted its holdings in Norbord by 3.1% in the fourth quarter. Swiss National Bank now owns 73,028 shares of the construction company’s stock valued at $2,474,000 after acquiring an additional 2,200 shares during the period. K.J. Harrison & Partners Inc lifted its holdings in Norbord by 6.5% in the fourth quarter. K.J. Harrison & Partners Inc now owns 45,000 shares of the construction company’s stock valued at $1,530,000 after acquiring an additional 2,743 shares during the period. Finally, Advisor Group Inc. lifted its holdings in Norbord by 5,212.7% in the third quarter. Advisor Group Inc. now owns 2,922 shares of the construction company’s stock valued at $111,000 after acquiring an additional 2,867 shares during the period. 78.67% of the stock is owned by hedge funds and other institutional investors.

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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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