Norbord (OSB) Research Coverage Started at Seaport Global Securities

Seaport Global Securities started coverage on shares of Norbord (NYSE:OSB) in a research report released on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $32.00 price target on the construction company’s stock. Seaport Global Securities also issued estimates for Norbord’s Q3 2018 earnings at $1.13 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $4.45 EPS, Q1 2019 earnings at $0.58 EPS, Q2 2019 earnings at $1.29 EPS, Q3 2019 earnings at $1.13 EPS, Q4 2019 earnings at $0.53 EPS and FY2019 earnings at $3.50 EPS.

Several other equities analysts have also weighed in on OSB. Zacks Investment Research lowered shares of Norbord from a strong-buy rating to a hold rating in a research report on Thursday, July 19th. ValuEngine lowered shares of Norbord from a hold rating to a sell rating in a research report on Monday, July 30th. Vertical Research upgraded shares of Norbord from a hold rating to a buy rating in a research report on Thursday, October 11th. Finally, BMO Capital Markets upgraded shares of Norbord from an underperform rating to a market perform rating and set a $26.00 price objective for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Norbord presently has a consensus rating of Hold and a consensus target price of $40.13.

Shares of NYSE:OSB traded down $1.25 during trading hours on Tuesday, hitting $24.50. 11,632 shares of the company’s stock traded hands, compared to its average volume of 156,174. Norbord has a 52 week low of $24.65 and a 52 week high of $45.45. The company has a current ratio of 2.69, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 5.49, a price-to-earnings-growth ratio of 0.94 and a beta of 2.40.



Norbord (NYSE:OSB) last posted its quarterly earnings data on Thursday, August 2nd. The construction company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.31. Norbord had a net margin of 22.75% and a return on equity of 48.17%. The company had revenue of $707.00 million during the quarter, compared to analyst estimates of $682.27 million. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue for the quarter was up 31.9% on a year-over-year basis. On average, research analysts forecast that Norbord will post 4.6 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Highstreet Asset Management Inc. lifted its stake in Norbord by 2,025.7% during the second quarter. Highstreet Asset Management Inc. now owns 4,294 shares of the construction company’s stock valued at $177,000 after buying an additional 4,092 shares in the last quarter. Intercontinental Wealth Advisors LLC purchased a new stake in Norbord during the second quarter valued at about $291,000. Cubist Systematic Strategies LLC lifted its stake in Norbord by 18.2% during the first quarter. Cubist Systematic Strategies LLC now owns 10,747 shares of the construction company’s stock valued at $390,000 after buying an additional 1,654 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Norbord during the second quarter valued at about $264,000. Finally, Tower Research Capital LLC TRC lifted its stake in Norbord by 128.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,324 shares of the construction company’s stock valued at $466,000 after buying an additional 6,372 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

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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Analyst Recommendations for Norbord (NYSE:OSB)

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