Louisiana-Pacific Co. (NYSE:LPX) Given Consensus Rating of “Hold” by Brokerages

Louisiana-Pacific Co. (NYSE:LPX) has been assigned an average rating of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $107.38.

A number of analysts have issued reports on the company. DA Davidson cut their target price on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Truist Financial cut their price objective on shares of Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. TD Securities reduced their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada boosted their target price on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets raised their price target on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, February 20th.

Louisiana-Pacific Stock Down 3.0%

LPX stock opened at $92.03 on Wednesday. The stock has a market capitalization of $6.40 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.24 and a beta of 1.94. Louisiana-Pacific has a 52 week low of $78.82 and a 52 week high of $122.87. The firm has a 50-day simple moving average of $89.28 and a 200-day simple moving average of $102.38. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The business had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $711.66 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Equities analysts forecast that Louisiana-Pacific will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $1.12 annualized dividend and a dividend yield of 1.22%. Louisiana-Pacific’s dividend payout ratio is currently 19.65%.

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. lifted its stake in Louisiana-Pacific by 1,736.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company’s stock worth $92,299,000 after purchasing an additional 842,809 shares in the last quarter. Norges Bank purchased a new position in Louisiana-Pacific during the 4th quarter valued at about $78,181,000. 59 North Capital Management LP boosted its holdings in Louisiana-Pacific by 32.1% during the 1st quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company’s stock valued at $240,863,000 after acquiring an additional 635,817 shares during the period. Palestra Capital Management LLC grew its position in Louisiana-Pacific by 173.5% in the 1st quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company’s stock valued at $83,851,000 after acquiring an additional 578,248 shares in the last quarter. Finally, FMR LLC increased its stake in Louisiana-Pacific by 17.1% during the fourth quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company’s stock worth $384,031,000 after purchasing an additional 540,703 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.