CIBC Increases Norbord (OSB) Price Target to C$53.00

Norbord (TSE:OSB) had its price objective lifted by CIBC from C$50.00 to C$53.00 in a research report report published on Tuesday.

Several other analysts have also recently commented on the company. Raymond James raised their target price on Norbord from C$65.00 to C$66.00 in a research report on Tuesday, April 10th. BMO Capital Markets set a C$32.00 target price on Norbord and gave the stock an underperform rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Norbord has an average rating of Buy and an average price target of C$51.88.

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Shares of Norbord stock opened at C$53.13 on Tuesday. Norbord has a 12 month low of C$38.00 and a 12 month high of C$53.94.

Norbord (TSE:OSB) last issued its earnings results on Friday, February 2nd. The company reported C$1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.73 by C$0.06. The business had revenue of C$756.97 million during the quarter. Norbord had a return on equity of 66.95% and a net margin of 26.85%.

In related news, insider Nigel Banks sold 19,000 shares of Norbord stock in a transaction on Thursday, March 15th. The stock was sold at an average price of C$47.00, for a total transaction of C$893,000.00. Also, insider Peter Cornelius Wijnbergen sold 7,000 shares of Norbord stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$45.00, for a total value of C$315,000.00. In the last three months, insiders have sold 36,000 shares of company stock valued at $1,656,000.

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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.

Analyst Recommendations for Norbord (TSE:OSB)

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