Norbord (NYSE:OSB) Shares Up 13.2%

Norbord Inc (NYSE:OSB)’s stock price shot up 13.2% during mid-day trading on Monday . The company traded as high as $11.81 and last traded at $11.69, 409,014 shares changed hands during mid-day trading. An increase of 23% from the average session volume of 333,334 shares. The stock had previously closed at $10.33.

A number of research firms have recently issued reports on OSB. TD Securities lifted their target price on shares of Norbord from $37.00 to $39.00 and gave the company an “action list buy” rating in a research note on Thursday, February 6th. Credit Suisse Group lifted their target price on shares of Norbord from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. CIBC upgraded shares of Norbord from a “neutral” rating to a “sector outperform” rating and set a $50.00 target price for the company in a research note on Thursday, March 5th. Zacks Investment Research cut shares of Norbord from a “buy” rating to a “hold” rating in a research note on Saturday, February 8th. Finally, Royal Bank of Canada raised shares of Norbord from a “sector perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Tuesday, March 17th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Norbord presently has a consensus rating of “Buy” and an average price target of $41.43.

The company has a quick ratio of 0.89, a current ratio of 1.78 and a debt-to-equity ratio of 1.03. The firm has a market cap of $894.38 million, a price-to-earnings ratio of -22.92 and a beta of 2.39. The business’s fifty day moving average is $20.81 and its two-hundred day moving average is $25.62.

Norbord (NYSE:OSB) last issued its quarterly earnings results on Wednesday, February 5th. The construction company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). Norbord had a negative net margin of 2.43% and a negative return on equity of 4.06%. The company had revenue of $403.00 million during the quarter, compared to analyst estimates of $435.88 million. During the same period in the prior year, the business earned $0.30 EPS. The business’s revenue for the quarter was down 19.6% on a year-over-year basis. Research analysts forecast that Norbord Inc will post 1.34 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. acquired a new stake in Norbord during the 4th quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Norbord by 20.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,629 shares of the construction company’s stock worth $97,000 after acquiring an additional 608 shares during the period. Point72 Asset Management L.P. acquired a new stake in Norbord during the 3rd quarter worth $101,000. Trexquant Investment LP acquired a new stake in Norbord during the 4th quarter worth $325,000. Finally, Platinum Investment Management Ltd. acquired a new stake in Norbord during the 4th quarter worth $357,000. 81.39% of the stock is owned by hedge funds and other institutional investors.

About Norbord (NYSE:OSB)

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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