Louisiana-Pacific (NYSE:LPX) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Louisiana-Pacific (NYSE:LPX) from a hold rating to a buy rating in a report issued on Wednesday.

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

Louisiana-Pacific Stock Up 0.4 %

LPX stock opened at $100.07 on Wednesday. The company’s 50 day simple moving average is $100.50 and its 200-day simple moving average is $91.13. Louisiana-Pacific has a 52-week low of $49.47 and a 52-week high of $109.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.38 and a quick ratio of 1.95. The firm has a market capitalization of $7.18 billion, a P/E ratio of 27.49, a P/E/G ratio of 4.96 and a beta of 1.88.

Louisiana-Pacific (NYSE:LPX) last announced 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 firm had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The business’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. As a group, equities research analysts anticipate that Louisiana-Pacific will post 5.04 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Tuesday, August 20th. Louisiana-Pacific’s payout ratio is presently 28.57%.

Insiders Place Their Bets

In related news, Director Ozey K. Horton, Jr. sold 800 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 owns 29,008 shares of the company’s stock, valued at $2,787,668.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Ozey K. Horton, Jr. sold 800 shares of Louisiana-Pacific stock in a transaction on Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the transaction, the director now owns 21,005 shares in the company, valued at approximately $2,064,791.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock valued at $3,368,774 in the last 90 days. 1.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Louisiana-Pacific

Several hedge funds have recently bought and sold shares of LPX. William Blair Investment Management LLC acquired a new stake in Louisiana-Pacific during the 2nd quarter worth $91,053,000. Marshall Wace LLP grew its position in shares of Louisiana-Pacific by 92.4% in the 2nd quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock valued at $103,363,000 after purchasing an additional 602,803 shares during the period. Renaissance Technologies LLC increased its stake in Louisiana-Pacific by 188.3% during the 2nd quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company’s stock worth $36,834,000 after purchasing an additional 292,200 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Louisiana-Pacific by 768.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 270,341 shares of the building manufacturing company’s stock worth $22,257,000 after buying an additional 239,212 shares during the period. Finally, Natixis bought a new position in Louisiana-Pacific in the first quarter valued at approximately $16,371,000. 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.