Barclays Cuts Louisiana-Pacific (NYSE:LPX) Price Target to $88.00

Louisiana-Pacific (NYSE:LPX) had its target price reduced by Barclays from $92.00 to $88.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the building manufacturing company’s stock.

Several other brokerages also recently issued reports on LPX. Jefferies Financial Group assumed coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target for the company. Weiss Ratings upgraded Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. DA Davidson reissued a “buy” rating and set a $99.00 price target on shares of Louisiana-Pacific in a research note on Wednesday, September 2nd. Bank of America boosted 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. Finally, Truist Financial lowered their price objective on Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Louisiana-Pacific has an average rating of “Moderate Buy” and a consensus price target of $93.33.

Louisiana-Pacific Trading Up 0.5%

LPX opened at $65.04 on Tuesday. The company’s 50 day moving average is $69.64 and its 200-day moving average is $72.44. Louisiana-Pacific has a 1-year low of $62.18 and a 1-year high of $100.34. The company has a current ratio of 3.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.55 billion, a P/E ratio of 82.33, a PEG ratio of 9.16 and a beta of 1.63.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.16). The company had revenue of $664.00 million for the quarter, compared to the consensus estimate of $667.31 million. Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. Equities research analysts predict that Louisiana-Pacific will post 1.17 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

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

Institutional Investors Weigh In On Louisiana-Pacific

A number of institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new stake in shares of Louisiana-Pacific in the first quarter valued at about $25,000. Parallel Advisors LLC lifted its stake in shares of Louisiana-Pacific by 204.0% in the first quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock worth $28,000 after acquiring an additional 255 shares during the period. Root Financial Partners LLC boosted its holdings in Louisiana-Pacific by 177.6% in the first quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock valued at $32,000 after acquiring an additional 277 shares during the last quarter. Whittier Trust Co. boosted its holdings in Louisiana-Pacific by 138.1% in the first quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company’s stock valued at $36,000 after acquiring an additional 290 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its position in Louisiana-Pacific by 1,505.4% during the 1st quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company’s stock valued at $43,000 after purchasing an additional 557 shares during the period. Institutional investors own 94.73% of the company’s stock.

About Louisiana-Pacific

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.