Raymond James Reaffirms “Outperform” Rating for Norbord (TSE:OSB)

Norbord (TSE:OSB)‘s stock had its “outperform” rating reissued by equities researchers at Raymond James in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a C$45.00 target price on the stock. Raymond James’ price target would suggest a potential upside of 43.40% from the company’s previous close.

Several other research analysts have also commented on OSB. Royal Bank of Canada reduced their price target on Norbord from C$45.00 to C$42.00 in a report on Friday, April 5th. CIBC upgraded Norbord from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from C$30.00 to C$32.00 in a report on Tuesday, May 7th.

Shares of OSB opened at C$31.38 on Friday. Norbord has a 52-week low of C$26.31 and a 52-week high of C$57.29. The company has a debt-to-equity ratio of 80.32, a quick ratio of 0.82 and a current ratio of 1.80. The firm has a market cap of $2.56 billion and a price-to-earnings ratio of 9.71.

Norbord (TSE:OSB) last announced its earnings results on Thursday, May 2nd. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.07). The business had revenue of C$632.87 million for the quarter, compared to the consensus estimate of C$621.00 million. As a group, analysts forecast that Norbord will post 2.3099999 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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