Norbord (NYSE:OSB) Downgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of Norbord (NYSE:OSB) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

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. “

A number of other brokerages have also recently commented on OSB. TD Securities lowered their price target on TRANSAT AT from C$15.00 to C$11.00 and set a hold rating for the company in a research note on Friday, May 3rd. BMO Capital Markets reiterated a hold rating and issued a $9.50 price objective on shares of Vicon Industries in a research report on Friday, June 14th. Raymond James set a $60.00 price objective on Banner and gave the company a buy rating in a research report on Friday, May 3rd. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Finally, TheStreet lowered Twin Disc from a b- rating to a c+ rating in a research report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $35.71.

Shares of OSB stock opened at $23.54 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.90 billion, a PE ratio of 4.99 and a beta of 2.07. The company has a 50-day moving average of $22.97. Norbord has a one year low of $19.46 and a one year high of $44.15.

Norbord (NYSE:OSB) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The company had revenue of $476.00 million during the quarter, compared to the consensus estimate of $462.00 million. Norbord had a net margin of 11.92% and a return on equity of 32.42%. Analysts anticipate that Norbord will post 1.33 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Saturday, June 1st were given a $0.299 dividend. The ex-dividend date was Thursday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.08%. Norbord’s dividend payout ratio is presently 25.00%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Formula Growth Ltd. bought a new position in Norbord during the 1st quarter worth $7,439,000. QCM Cayman Ltd. bought a new position in shares of Norbord in the first quarter worth $314,000. Yorktown Management & Research Co Inc bought a new position in shares of Norbord in the first quarter worth $276,000. Ontario Teachers Pension Plan Board bought a new position in shares of Norbord in the first quarter worth $2,705,000. Finally, AJO LP increased its position in shares of Norbord by 201.7% in the first quarter. AJO LP now owns 84,459 shares of the construction company’s stock worth $2,327,000 after purchasing an additional 56,464 shares during the period. Institutional investors and hedge funds own 79.10% of the company’s stock.

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.

Featured Article: Cost of Debt

Get a free copy of the Zacks research report on Norbord (OSB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Norbord (NYSE:OSB)

Receive News & Ratings for Norbord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norbord and related companies with MarketBeat.com's FREE daily email newsletter.