Louisiana-Pacific (NYSE:LPX) Stock Rating Reaffirmed by Truist Financial

Louisiana-Pacific (NYSE:LPX)‘s stock had its “buy” rating restated by research analysts at Truist Financial in a research report issued on Thursday, Benzinga reports. They presently have a $105.00 target price on the building manufacturing company’s stock, up from their previous target price of $101.00. Truist Financial’s price objective would indicate a potential upside of 10.10% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group cut shares of Louisiana-Pacific from a “neutral” rating to a “sell” rating and cut their price target for the stock from $89.00 to $81.00 in a research note on Monday, June 17th. Royal Bank of Canada upped their price objective on shares of Louisiana-Pacific from $88.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. DA Davidson upped their price objective on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Loop Capital initiated coverage on shares of Louisiana-Pacific in a research note on Friday, May 3rd. They issued a “hold” rating and a $82.00 price objective for the company. Finally, StockNews.com cut shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $94.88.

Louisiana-Pacific Stock Performance

Shares of NYSE LPX traded down $0.43 during midday trading on Thursday, hitting $95.37. The company’s stock had a trading volume of 631,630 shares, compared to its average volume of 936,760. The stock has a fifty day moving average price of $89.31 and a 200 day moving average price of $81.43. Louisiana-Pacific has a one year low of $49.47 and a one year high of $101.89. The company has a current ratio of 3.32, a quick ratio of 1.75 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 13.92 and a beta of 1.89.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $797.26 million. Louisiana-Pacific had a net margin of 9.74% and a return on equity of 20.87%. Louisiana-Pacific’s revenue was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, research analysts forecast that Louisiana-Pacific will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 3,591 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $89.18, for a total value of $320,245.38. Following the completion of the sale, the director now directly owns 23,501 shares of the company’s stock, valued at approximately $2,095,819.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Lizanne C. Gottung sold 3,591 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $89.18, for a total value of $320,245.38. Following the completion of the sale, the director now directly owns 23,501 shares of the company’s stock, valued at approximately $2,095,819.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ozey K. Horton, Jr. sold 800 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction of $76,880.00. Following the completion of the sale, the director now directly owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Louisiana-Pacific

Several institutional investors and hedge funds have recently modified their holdings of LPX. Eminence Capital LP raised its holdings in Louisiana-Pacific by 31.4% in the fourth quarter. Eminence Capital LP now owns 2,056,991 shares of the building manufacturing company’s stock worth $145,697,000 after buying an additional 491,641 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Louisiana-Pacific by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,740,249 shares of the building manufacturing company’s stock valued at $146,026,000 after buying an additional 177,132 shares during the period. Franklin Resources Inc. grew its position in Louisiana-Pacific by 10.0% during the fourth quarter. Franklin Resources Inc. now owns 1,136,025 shares of the building manufacturing company’s stock valued at $80,465,000 after buying an additional 103,249 shares during the period. William Blair Investment Management LLC bought a new stake in Louisiana-Pacific during the second quarter valued at approximately $91,053,000. Finally, Channing Capital Management LLC bought a new stake in Louisiana-Pacific during the fourth quarter valued at approximately $73,662,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

About Louisiana-Pacific

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.