Louisiana-Pacific (NYSE:LPX) Given “Buy” Rating at DA Davidson

Louisiana-Pacific (NYSE:LPX)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a report released on Wednesday,Benzinga reports. They presently have a $117.00 price objective on the building manufacturing company’s stock. DA Davidson’s target price points to a potential upside of 32.81% from the company’s current price.

Several other analysts also recently weighed in on the stock. Zacks Research downgraded shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Truist Financial boosted their target price on Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. TD Securities dropped their price objective on Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. Royal Bank Of Canada reduced their target price on Louisiana-Pacific from $114.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Finally, Vertical Research started coverage on shares of Louisiana-Pacific in a research note on Monday, October 20th. They set a “buy” rating on the stock. Six 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.57.

Louisiana-Pacific Stock Performance

Shares of LPX traded up $0.09 during midday trading on Wednesday, reaching $88.10. 153,804 shares of the stock were exchanged, compared to its average volume of 1,017,601. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 28.51 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.93 and a quick ratio of 1.72. Louisiana-Pacific has a twelve month low of $73.42 and a twelve month high of $119.91. The business’s 50-day moving average price is $84.83 and its 200 day moving average price is $88.24.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $663.00 million during the quarter, compared to analyst estimates of $670.26 million. Louisiana-Pacific had a net margin of 7.69% and a return on equity of 14.90%. Louisiana-Pacific’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 earnings per share. On average, sell-side analysts expect that Louisiana-Pacific will post 5.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Louisiana-Pacific news, CEO William Bradley Southern sold 14,166 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $93.08, for a total transaction of $1,318,571.28. Following the sale, the chief executive officer directly owned 489,215 shares of the company’s stock, valued at $45,536,132.20. This trade represents a 2.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen E. Macadam purchased 3,200 shares of the stock in a transaction dated Friday, November 7th. The shares were purchased at an average price of $78.06 per share, with a total value of $249,792.00. Following the completion of the acquisition, the director owned 41,149 shares of the company’s stock, valued at approximately $3,212,090.94. This represents a 8.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 113,344 shares of company stock worth $10,170,949. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently made changes to their positions in the business. Eminence Capital LP lifted its position in shares of Louisiana-Pacific by 7.9% during the third quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company’s stock worth $276,822,000 after purchasing an additional 228,521 shares during the last quarter. 59 North Capital Management LP lifted its position in shares of Louisiana-Pacific by 7.2% in the 2nd quarter. 59 North Capital Management LP now owns 2,808,369 shares of the building manufacturing company’s stock worth $241,492,000 after buying an additional 189,726 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Louisiana-Pacific by 33,243.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,588,787 shares of the building manufacturing company’s stock valued at $222,610,000 after buying an additional 2,581,023 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Louisiana-Pacific by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,549,853 shares of the building manufacturing company’s stock valued at $137,666,000 after buying an additional 28,535 shares during the last quarter. Finally, Boston Partners acquired a new stake in Louisiana-Pacific during the third quarter worth about $100,770,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.