Louisiana-Pacific’s (LPX) Buy Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Louisiana-Pacific (NYSE:LPX) in a research note published on Wednesday morning,Benzinga reports. They currently have a $117.00 price target on the building manufacturing company’s stock.

Several other research analysts have also recently commented on LPX. Truist Financial increased their target price on shares of Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Louisiana-Pacific in a research report on Monday, December 29th. Barclays upped their target price on shares of Louisiana-Pacific from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Vertical Research assumed coverage on Louisiana-Pacific in a report on Monday, October 20th. They set a “buy” rating for the company. Finally, 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 research note on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.57.

Louisiana-Pacific Stock Performance

Louisiana-Pacific stock opened at $83.60 on Wednesday. The company has a market cap of $5.82 billion, a PE ratio of 27.06 and a beta of 1.80. Louisiana-Pacific has a 1 year low of $73.42 and a 1 year high of $119.91. The company has a current ratio of 2.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $85.45 and its two-hundred day moving average is $88.17.

Louisiana-Pacific (NYSE:LPX) last posted its 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 7.69% and a return on equity of 14.90%. The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $670.26 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis. Equities analysts anticipate that Louisiana-Pacific will post 5.27 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Stephen E. Macadam purchased 3,200 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $78.06 per share, with a total value of $249,792.00. Following the acquisition, the director owned 41,149 shares in the company, valued at approximately $3,212,090.94. This trade represents a 8.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Bradley Southern sold 55,346 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $91.66, for a total value of $5,073,014.36. Following the completion of the sale, the chief executive officer owned 503,381 shares of the company’s stock, valued at $46,139,902.46. This trade represents a 9.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 113,344 shares of company stock worth $10,170,949. 1.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds have recently bought and sold shares of LPX. Eminence Capital LP boosted its holdings in Louisiana-Pacific by 7.9% in the 3rd quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company’s stock valued at $276,822,000 after purchasing an additional 228,521 shares during the period. 59 North Capital Management LP increased its holdings in shares of Louisiana-Pacific by 7.2% during the second quarter. 59 North Capital Management LP now owns 2,808,369 shares of the building manufacturing company’s stock worth $241,492,000 after purchasing an additional 189,726 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Louisiana-Pacific by 33,243.5% in the second 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in Louisiana-Pacific by 1.9% in 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 acquiring an additional 28,535 shares in the last quarter. Finally, Boston Partners acquired a new position in Louisiana-Pacific in the third quarter valued at about $100,770,000. 94.73% of the stock is owned by 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.