OSB Group (LON:OSB) to Buyback 0 Shares

OSB Group (LON:OSB) declared that its board has approved a share buyback plan on Thursday, March 5th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

OSB Group Price Performance

LON OSB traded up GBX 7 during trading hours on Thursday, reaching GBX 574.50. The company’s stock had a trading volume of 1,482,959 shares, compared to its average volume of 3,607,094. The firm has a fifty day simple moving average of GBX 615.93 and a 200-day simple moving average of GBX 578.64. OSB Group has a 52 week low of GBX 360.60 and a 52 week high of GBX 647.50. The stock has a market cap of £2.04 billion, a P/E ratio of 8.35 and a beta of 1.08.

OSB Group (LON:OSB) last posted its quarterly earnings results on Thursday, March 5th. The company reported GBX 75.60 earnings per share (EPS) for the quarter. OSB Group had a return on equity of 12.35% and a net margin of 42.75%. On average, research analysts expect that OSB Group will post 85.1214128 earnings per share for the current year.

Analyst Upgrades and Downgrades

OSB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded OSB Group to a “hold” rating and increased their price objective for the stock from GBX 650 to GBX 660 in a research note on Friday, January 23rd. Shore Capital Group restated a “buy” rating and issued a GBX 665 target price on shares of OSB Group in a research note on Friday, December 19th. Finally, Peel Hunt reaffirmed a “hold” rating and issued a GBX 564 price target on shares of OSB Group in a research note on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 631.

OSB Group Company Profile

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.