Oppenheimer Begins Coverage on Louisiana-Pacific (NYSE:LPX)

Oppenheimer assumed coverage on shares of Louisiana-Pacific (NYSE:LPX) in a research report issued on Thursday. The firm set an “outperform” rating and a $15.00 price target on the building manufacturing company’s stock. Oppenheimer’s price target suggests a potential downside of 84.05% from the stock’s current price.

Several other brokerages also recently issued reports on LPX. Truist Financial upped their target price on shares of Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Zacks Research raised Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. DA Davidson reissued a “buy” rating and issued a $117.00 price objective on shares of Louisiana-Pacific in a report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Louisiana-Pacific in a research note on Monday, December 29th. Finally, TD Securities dropped their price objective on Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.13.

Louisiana-Pacific Trading Up 5.5%

NYSE LPX opened at $94.06 on Thursday. Louisiana-Pacific has a twelve month low of $73.42 and a twelve month high of $119.91. The company has a quick ratio of 1.72, a current ratio of 2.93 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $86.00 and its 200 day moving average is $88.21. The firm has a market capitalization of $6.55 billion, a PE ratio of 30.44 and a beta of 1.81.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, November 5th. The building manufacturing company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Louisiana-Pacific had a return on equity of 14.90% and a net margin of 7.69%.The company had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $670.26 million. During the same period in the prior year, the company posted $1.22 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. Research analysts forecast that Louisiana-Pacific will post 5.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William Bradley Southern sold 21,252 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $88.19, for a total value of $1,874,213.88. Following the completion of the sale, the chief executive officer owned 460,883 shares in the company, valued at approximately $40,645,271.77. This trade represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen E. Macadam purchased 3,200 shares of Louisiana-Pacific stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $78.06 per share, for a total transaction of $249,792.00. Following the completion of the transaction, the director directly owned 41,149 shares in the company, valued at $3,212,090.94. This represents a 8.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 141,676 shares of company stock valued at $12,648,096 in the last ninety days. Company insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in Louisiana-Pacific by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 555,489 shares of the building manufacturing company’s stock worth $47,766,000 after purchasing an additional 29,803 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in Louisiana-Pacific by 27.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 57,876 shares of the building manufacturing company’s stock worth $5,142,000 after acquiring an additional 12,490 shares in the last quarter. Ceredex Value Advisors LLC grew its stake in Louisiana-Pacific by 57.2% during the 2nd quarter. Ceredex Value Advisors LLC now owns 124,100 shares of the building manufacturing company’s stock valued at $10,671,000 after acquiring an additional 45,175 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in Louisiana-Pacific by 31.3% in the 3rd quarter. UniSuper Management Pty Ltd now owns 49,785 shares of the building manufacturing company’s stock valued at $4,423,000 after buying an additional 11,873 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Louisiana-Pacific during the 2nd quarter worth $424,000. 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.