Louisiana-Pacific (NYSE:LPX) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Louisiana-Pacific (NYSE:LPX) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on LPX. BMO Capital Markets upgraded shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research report on Thursday, May 7th. Barclays cut their target price on shares of Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. DA Davidson restated a “buy” rating and issued a $114.00 target price on shares of Louisiana-Pacific in a report on Tuesday, May 5th. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Finally, TD upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Louisiana-Pacific currently has a consensus rating of “Moderate Buy” and an average price target of $96.78.

Louisiana-Pacific Price Performance

NYSE LPX opened at $78.75 on Tuesday. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a 1 year low of $66.12 and a 1 year high of $102.86. The company has a market cap of $5.50 billion, a PE ratio of 66.74, a PEG ratio of 1.98 and a beta of 1.59. The stock’s 50-day moving average price is $74.17 and its two-hundred day moving average price is $79.65.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.14 by $0.24. The company had revenue of $574.00 million during the quarter, compared to analysts’ expectations of $569.99 million. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period last year, the company posted $1.27 earnings per share. On average, analysts predict that Louisiana-Pacific will post 2 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, May 14th. Louisiana-Pacific’s payout ratio is currently 101.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Louisiana-Pacific by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,549,853 shares of the building manufacturing company’s stock worth $137,666,000 after buying an additional 28,535 shares during the last quarter. Eminence Capital LP lifted its stake in Louisiana-Pacific by 7.9% in the third quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company’s stock valued at $276,822,000 after acquiring an additional 228,521 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Louisiana-Pacific in the third quarter valued at approximately $14,285,000. Fernbridge Capital Management LP grew its position in Louisiana-Pacific by 284.5% in the third quarter. Fernbridge Capital Management LP now owns 820,755 shares of the building manufacturing company’s stock worth $72,916,000 after acquiring an additional 607,319 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Louisiana-Pacific by 24.0% in the third quarter. American Century Companies Inc. now owns 688,772 shares of the building manufacturing company’s stock worth $61,191,000 after acquiring an additional 133,283 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.