CIBC Increases Norbord (TSE:OSB) Price Target to C$35.00

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Norbord (TSE:OSB) had its price objective boosted by equities research analysts at CIBC from C$31.00 to C$35.00 in a research note issued on Friday, BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 6.90% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on OSB. Raymond James lowered their price objective on shares of Norbord from C$51.00 to C$45.00 in a research report on Wednesday, April 3rd. Royal Bank of Canada lowered their price objective on shares of Norbord from C$45.00 to C$42.00 in a research report on Friday, April 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a C$28.00 price objective on shares of Norbord in a research report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$37.50.

Shares of TSE OSB opened at C$32.74 on Friday. The business’s 50 day moving average price is C$29.76. The firm has a market cap of $2.84 billion and a P/E ratio of 10.13. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.80 and a quick ratio of 0.82. Norbord has a 1 year low of C$26.31 and a 1 year high of C$57.29.

Norbord (TSE:OSB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.04 by C($0.07). The company had revenue of C$632.87 million for the quarter, compared to analysts’ expectations of C$621.00 million. As a group, equities research analysts forecast that Norbord will post 2.1599999 earnings per share for the current fiscal year.

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.

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