Louisiana-Pacific (NYSE:LPX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Louisiana-Pacific (NYSE:LPX) from a hold rating to a buy rating in a research note released on Wednesday morning.

Several other equities research analysts also recently issued reports on the stock. Bank of America raised their price objective on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Truist Financial lifted their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets lowered Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price objective on the stock. in a report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada upped their price target on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Louisiana-Pacific has a consensus rating of “Hold” and an average price target of $93.56.

Louisiana-Pacific Stock Performance

Shares of NYSE LPX opened at $100.81 on Wednesday. Louisiana-Pacific has a 12 month low of $49.47 and a 12 month high of $109.73. The stock has a 50 day moving average of $100.79 and a 200-day moving average of $91.37. The company has a current ratio of 3.38, a quick ratio of 1.95 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $7.08 billion, a P/E ratio of 16.39, a P/E/G ratio of 4.63 and a beta of 1.88.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.86 by $0.23. The firm had revenue of $814.00 million for the quarter, compared to the consensus estimate of $797.26 million. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The company’s quarterly revenue was up 33.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, equities research analysts predict that Louisiana-Pacific will post 5.04 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 20th. Louisiana-Pacific’s payout ratio is presently 16.91%.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.30, for a total transaction of $245,750.00. Following the completion of the transaction, the director now directly owns 21,005 shares in the company, valued at $2,064,791.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO William Bradley Southern sold 32,600 shares of Louisiana-Pacific stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the sale, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the transaction, the director now owns 21,005 shares of the company’s stock, valued at approximately $2,064,791.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,900 shares of company stock valued at $3,368,774. Company insiders own 1.26% of the company’s stock.

Institutional Trading of Louisiana-Pacific

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Louisiana-Pacific by 48,193.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 162,267 shares of the building manufacturing company’s stock valued at $13,616,000 after acquiring an additional 161,931 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Louisiana-Pacific by 2.6% during the first quarter. State of Michigan Retirement System now owns 15,758 shares of the building manufacturing company’s stock worth $1,322,000 after purchasing an additional 400 shares during the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Louisiana-Pacific during the first quarter worth about $232,000. Principal Financial Group Inc. increased its stake in shares of Louisiana-Pacific by 2.6% in the first quarter. Principal Financial Group Inc. now owns 241,648 shares of the building manufacturing company’s stock valued at $20,277,000 after buying an additional 6,023 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Louisiana-Pacific by 43.1% in the 1st quarter. Van ECK Associates Corp now owns 25,418 shares of the building manufacturing company’s stock valued at $2,133,000 after buying an additional 7,651 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Company Profile

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.