Louisiana-Pacific (NYSE:LPX) Receives “Buy” Rating from DA Davidson

Louisiana-Pacific (NYSE:LPX)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a note issued to investors on Thursday,Benzinga reports. They presently have a $117.00 price target on the building manufacturing company’s stock. DA Davidson’s price target indicates a potential upside of 56.31% from the company’s previous close.

A number of other brokerages also recently commented on LPX. Vertical Research started coverage on shares of Louisiana-Pacific in a report on Monday, October 20th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Louisiana-Pacific in a report on Wednesday, October 8th. Zacks Research lowered Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Royal Bank Of Canada dropped their price objective on shares of Louisiana-Pacific from $114.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, Wall Street Zen cut shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Louisiana-Pacific currently has an average rating of “Hold” and a consensus target price of $106.33.

Louisiana-Pacific Price Performance

NYSE:LPX traded down $0.14 during trading hours on Thursday, reaching $74.85. The stock had a trading volume of 246,938 shares, compared to its average volume of 772,512. The stock has a market capitalization of $5.21 billion, a PE ratio of 17.66 and a beta of 1.80. Louisiana-Pacific has a 52 week low of $73.42 and a 52 week high of $122.87. The company has a 50 day moving average price of $86.91 and a two-hundred day moving average price of $90.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The business had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $670.26 million. During the same period in the previous year, the company earned $1.22 EPS. Louisiana-Pacific’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Louisiana-Pacific will post 5.27 earnings per share for the current fiscal year.

Insider Transactions at Louisiana-Pacific

In related news, Director Stephen E. Macadam acquired 3,200 shares of the stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $78.06 per share, with a total value of $249,792.00. Following the transaction, the director directly owned 41,149 shares in the company, valued at approximately $3,212,090.94. This represents a 8.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Chung Wu Investment Group LLC bought a new position in shares of Louisiana-Pacific during the 2nd quarter worth $26,000. North Ridge Wealth Advisors Inc. purchased a new position in Louisiana-Pacific during the 2nd quarter valued at about $26,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Louisiana-Pacific in the 2nd quarter valued at about $34,000. RMG Wealth Management LLC bought a new position in shares of Louisiana-Pacific during the second quarter valued at approximately $44,000. Finally, Versant Capital Management Inc increased its holdings in Louisiana-Pacific by 34.3% during the third quarter. Versant Capital Management Inc now owns 497 shares of the building manufacturing company’s stock valued at $44,000 after buying an additional 127 shares during the period. 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.