Louisiana-Pacific (NYSE:LPX) had its price target raised by stock analysts at Bank of America from $36.00 to $37.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the building manufacturing company’s stock. Bank of America’s price objective indicates a potential upside of 16.57% from the stock’s previous close.
A number of other brokerages have also weighed in on LPX. TD Securities raised their price objective on shares of Louisiana-Pacific from $29.00 to $32.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Zacks Investment Research upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, July 7th. Finally, Scotiabank raised their price objective on shares of Louisiana-Pacific from $30.00 to $31.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Louisiana-Pacific currently has a consensus rating of “Buy” and an average target price of $31.38.
Louisiana-Pacific stock traded up $0.11 during mid-day trading on Friday, reaching $31.74. 5,325 shares of the company’s stock were exchanged, compared to its average volume of 1,141,757. The company has a market cap of $3.60 billion, a P/E ratio of 198.95 and a beta of 1.88. Louisiana-Pacific has a twelve month low of $12.97 and a twelve month high of $34.35. The company has a quick ratio of 2.05, a current ratio of 3.15 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $31.99 and a 200-day moving average of $24.89.
Louisiana-Pacific (NYSE:LPX) last released its earnings results on Tuesday, August 4th. The building manufacturing company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.25. Louisiana-Pacific had a net margin of 0.75% and a return on equity of 9.74%. The company had revenue of $548.00 million for the quarter, compared to analyst estimates of $531.91 million. During the same period in the prior year, the business earned $0.14 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. Equities research analysts expect that Louisiana-Pacific will post 2.24 earnings per share for the current fiscal year.
In related news, Director Kurt M. Landgraf sold 29,352 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $30.60, for a total value of $898,171.20. Following the transaction, the director now directly owns 28,988 shares of the company’s stock, valued at approximately $887,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of LPX. Captrust Financial Advisors purchased a new position in Louisiana-Pacific during the 2nd quarter worth $33,000. Hoover Financial Advisors Inc. purchased a new position in Louisiana-Pacific during the 2nd quarter worth $34,000. Canada Pension Plan Investment Board grew its position in Louisiana-Pacific by 52.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,476 shares of the building manufacturing company’s stock worth $38,000 after purchasing an additional 510 shares during the last quarter. Bourgeon Capital Management LLC purchased a new position in Louisiana-Pacific during the 2nd quarter worth $51,000. Finally, Fifth Third Bancorp grew its position in Louisiana-Pacific by 16.3% during the 1st quarter. Fifth Third Bancorp now owns 3,674 shares of the building manufacturing company’s stock worth $63,000 after purchasing an additional 514 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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