Louisiana-Pacific (NYSE:LPX) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Louisiana-Pacific (NYSE:LPX) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks reports.

Several other analysts have also weighed in on the stock. Truist Financial lowered their target price on shares of Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Bank of America raised their price target on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. The Goldman Sachs Group upped their price objective on Louisiana-Pacific from $66.00 to $74.00 and gave the stock a “sell” rating in a research note on Thursday, August 6th. Jefferies Financial Group began coverage on Louisiana-Pacific in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 target price on the stock. Finally, DA Davidson reiterated a “buy” rating and issued a $99.00 target price on shares of Louisiana-Pacific in a research note on Wednesday, September 2nd. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.33.

Louisiana-Pacific Trading Up 2.6%

NYSE LPX opened at $66.97 on Monday. Louisiana-Pacific has a 12 month low of $62.18 and a 12 month high of $100.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. The company has a 50-day moving average of $69.96 and a 200-day moving average of $72.53. The company has a market cap of $4.68 billion, a P/E ratio of 84.78, a P/E/G ratio of 9.24 and a beta of 1.63.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The firm had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $667.31 million. During the same quarter last year, the business earned $0.99 earnings per share. The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, equities analysts predict that Louisiana-Pacific will post 1.17 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 1.8%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 151.90%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Berkshire Hathaway Inc acquired a new position in shares of Louisiana-Pacific in the second quarter worth about $445,593,000. Principal Financial Group Inc. increased its position in Louisiana-Pacific by 20.5% in the 1st quarter. Principal Financial Group Inc. now owns 497,852 shares of the building manufacturing company’s stock worth $36,219,000 after buying an additional 84,661 shares during the period. Legal & General Group Plc acquired a new position in Louisiana-Pacific in the 2nd quarter valued at approximately $7,219,000. Bank of America Corp DE acquired a new stake in Louisiana-Pacific during the second quarter valued at approximately $26,389,000. Finally, Maple Rock Capital Partners Inc. grew its stake in Louisiana-Pacific by 36.8% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,521,859 shares of the building manufacturing company’s stock worth $119,709,000 after buying an additional 409,300 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential and light commercial construction. The company’s portfolio includes engineered wood siding and trim, oriented strand board (OSB), and other engineered wood products designed for wall, roof, and structural applications.

Louisiana-Pacific is best known for its LP SmartSide siding and trim products, which are made from engineered wood and marketed as alternatives to traditional wood siding.