OSB Group (LON:OSB) Shares Pass Below 50 Day Moving Average – Here’s What Happened

Shares of OSB Group Plc (LON:OSB) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 561.91 and traded as low as GBX 545. OSB Group shares last traded at GBX 548, with a volume of 562,695 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OSB shares. Shore Capital Group reaffirmed a “buy” rating on shares of OSB Group in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft cut shares of OSB Group to a “hold” rating and boosted their price target for the stock from GBX 650 to GBX 660 in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 800 price objective on shares of OSB Group in a research report on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 664.80.

OSB Group Price Performance

The firm has a market capitalization of £1.90 billion, a PE ratio of 7.34 and a beta of 1.10. The business has a 50-day simple moving average of GBX 561.91 and a 200-day simple moving average of GBX 578.35.

OSB Group (LON:OSB) last announced its earnings results on Thursday, March 5th. The company reported GBX 75.60 EPS for the quarter. OSB Group had a return on equity of 13.26% and a net margin of 22.29%. On average, research analysts expect that OSB Group Plc will post 85.1214128 earnings per share for the current year.

OSB Group announced that its Board of Directors has initiated a share repurchase program on Thursday, March 5th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other OSB Group news, insider Andy Golding sold 343,485 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of GBX 582, for a total transaction of £1,999,082.70. Insiders have sold a total of 670,474 shares of company stock worth $382,880,908 in the last quarter. Insiders own 0.49% of the company’s stock.

About OSB Group

OSB Group Plc, through its subsidiaries, operates as a specialist mortgage lending and retail savings company in the United Kingdom and the Channel Islands. It provides private rented sector related buy-to-let, commercial and semi-commercial mortgages, residential development finance, secured funding, bridging, and asset finance services. The company also provides buy-to-let and specialist residential mortgages, mortgage servicing, administration and analytical, mortgage originator and servicer, and retail savings products; and back office processing services.