Loop Capital Cuts Louisiana-Pacific (NYSE:LPX) Price Target to $110.00

Louisiana-Pacific (NYSE:LPX) had its target price lowered by Loop Capital from $117.00 to $110.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the building manufacturing company’s stock.

A number of other research analysts also recently commented on the stock. TD Securities decreased their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. DA Davidson decreased their price objective on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. StockNews.com downgraded shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. BMO Capital Markets lifted their price objective on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 target price on shares of Louisiana-Pacific in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $111.50.

Louisiana-Pacific Price Performance

Shares of LPX stock opened at $100.10 on Monday. Louisiana-Pacific has a 52-week low of $70.67 and a 52-week high of $122.87. The stock has a market cap of $6.98 billion, a PE ratio of 17.02, a PEG ratio of 1.24 and a beta of 1.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.86. The firm’s 50 day moving average price is $109.65 and its two-hundred day moving average price is $106.67.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.24. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The company had revenue of $681.00 million for the quarter, compared to analyst estimates of $666.75 million. During the same period last year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts forecast that Louisiana-Pacific will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.28 per share. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.12 annualized dividend and a yield of 1.12%. Louisiana-Pacific’s dividend payout ratio is presently 19.05%.

Insider Activity

In other news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $113.50, for a total value of $283,750.00. Following the completion of the transaction, the director now directly owns 18,513 shares in the company, valued at approximately $2,101,225.50. This trade represents a 11.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Louisiana-Pacific by 36.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,045 shares of the building manufacturing company’s stock worth $2,261,000 after acquiring an additional 5,645 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in Louisiana-Pacific by 269.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 41,698 shares of the building manufacturing company’s stock valued at $4,318,000 after acquiring an additional 30,418 shares in the last quarter. Empowered Funds LLC boosted its holdings in Louisiana-Pacific by 238.1% in the third quarter. Empowered Funds LLC now owns 19,881 shares of the building manufacturing company’s stock valued at $2,136,000 after acquiring an additional 14,001 shares in the last quarter. Symphony Financial Ltd. Co. bought a new stake in Louisiana-Pacific in the fourth quarter valued at $259,000. Finally, Ritholtz Wealth Management boosted its holdings in Louisiana-Pacific by 65.0% in the fourth quarter. Ritholtz Wealth Management now owns 7,381 shares of the building manufacturing company’s stock valued at $764,000 after acquiring an additional 2,907 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.