Norbord (OSB) Received its Third Buy in a Row

By Carrie Williams

Analysts have been quite happy with Norbord (OSBResearch Report) stock lately, with another positive rating update this time from RBC Capital. Analyst Paul Quinn reiterated a Buy rating, with a C$40 price target today.

According to TipRanks.com, Quinn is a 5-star analyst with an average return of 12.8% and a 63.8% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Mercer International Inc, Clearwater Paper, and WestRock LLC.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Norbord with a C$39.50 average price target.

Based on Norbord’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$1.33 million. In comparison, last year the company had a net profit of C$225 million.

Norbord, Inc. engages in the manufacturing, sales, marketing and distribution of wood-based panelboards and related products. Its products are used in the construction of new homes or in the renovation and repair of existing structures. The company was founded in 1987 and is headquartered in Toronto, Canada.

The company’s shares closed on Tuesday at C$31.08, close to its 52-week low of C$26.31.