Louisiana-Pacific (NYSE:LPX) Rating Increased to Buy at StockNews.com

Louisiana-Pacific (NYSE:LPX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets cut Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price objective on the stock. in a research note on Thursday, August 8th. Royal Bank of Canada boosted their price objective on Louisiana-Pacific from $101.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Truist Financial boosted their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America lifted their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group lifted their target price on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $93.56.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock opened at $103.58 on Wednesday. Louisiana-Pacific has a twelve month low of $49.47 and a twelve month high of $109.73. The stock has a market capitalization of $7.43 billion, a P/E ratio of 28.46, a PEG ratio of 4.96 and a beta of 1.88. The company has a current ratio of 3.38, a quick ratio of 1.95 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average price is $100.66 and its 200 day moving average price is $91.21.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The company had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $797.26 million. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The firm’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, research analysts anticipate that Louisiana-Pacific will post 5.04 earnings per share for the current year.

Insider Activity at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 800 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the sale, the director now directly owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the sale, the director now directly owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at $55,773,027.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock valued at $3,368,774 over the last three months. 1.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in Louisiana-Pacific by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,740,249 shares of the building manufacturing company’s stock worth $146,026,000 after purchasing an additional 177,132 shares during the period. Marshall Wace LLP increased its holdings in shares of Louisiana-Pacific by 92.4% in the second quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock valued at $103,363,000 after buying an additional 602,803 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Louisiana-Pacific in the second quarter valued at $91,053,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Louisiana-Pacific by 6.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 925,514 shares of the building manufacturing company’s stock valued at $77,660,000 after buying an additional 57,966 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Louisiana-Pacific by 188.3% in the second quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company’s stock valued at $36,834,000 after buying an additional 292,200 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.