OSB Group (LON:OSB) Stock Passes Above 50-Day Moving Average – Time to Sell?

OSB Group Plc (LON:OSB)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 517.46 and traded as high as GBX 540. OSB Group shares last traded at GBX 538.50, with a volume of 655,850 shares traded.

Wall Street Analysts Forecast Growth

OSB has been the subject of a number of analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 800 price objective on shares of OSB Group in a research report on Thursday, March 26th. Shore Capital Group reaffirmed a “buy” rating and set a GBX 680 target price on shares of OSB Group in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, OSB Group currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 667.80.

OSB Group Stock Down 0.6%

The company has a 50-day moving average of GBX 517.08 and a 200 day moving average of GBX 565.92. The firm has a market capitalization of £1.84 billion, a PE ratio of 7.28 and a beta of 1.05.

OSB Group declared that its Board of Directors has approved a stock buyback program on Thursday, March 5th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at OSB Group

In related news, insider Victoria Hyde sold 5,132 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of GBX 525, for a total value of £26,943. Also, insider Andy Golding sold 36,430 shares of OSB Group stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of GBX 555, for a total transaction of £202,186.50. Over the last 90 days, insiders sold 52,689 shares of company stock worth $28,754,625. 0.39% of the stock is owned by company insiders.

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.