The Materials sector company, Norbord (OSB), has received a rating update from a Wall Street analyst yesterday. Analyst Hamir Patel from CIBC rated Norbord (OSB) a Sell, setting a C$29 price target.
According to TipRanks.com, Patel is a 4-star analyst with an average return of 6.3% and a 45.7% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.
Norbord has an analyst consensus of Moderate Buy, with a price target consensus of C$37.67.
Based on Norbord’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$170 million. In comparison, last year the company had a net profit of C$203 million.
Norbord, Inc. engages in the manufacturing, sales, marketing and distribution of 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 Monday at C$37.39.
