Louisiana-Pacific (NYSE:LPX) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Louisiana-Pacific (NYSE:LPX) from a buy rating to a hold rating in a research note published on Friday.

Several other equities analysts have also issued reports on the stock. Bank of America lifted their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company an underperform rating in a report on Thursday. The Goldman Sachs Group raised their price objective on Louisiana-Pacific from $78.00 to $86.00 and gave the company a sell rating in a research report on Thursday, August 8th. Truist Financial reaffirmed a buy rating and set a $105.00 price objective (up previously from $101.00) on shares of Louisiana-Pacific in a research report on Thursday, August 8th. DA Davidson raised their price objective on Louisiana-Pacific from $98.00 to $110.00 and gave the company a buy rating in a research report on Friday, June 14th. Finally, Royal Bank of Canada raised their price objective on Louisiana-Pacific from $101.00 to $112.00 and gave the company an outperform rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $92.67.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $97.92 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.38 and a quick ratio of 1.95. Louisiana-Pacific has a one year low of $49.47 and a one year high of $101.89. The company has a 50-day simple moving average of $92.74 and a two-hundred day simple moving average of $85.81. The firm has a market capitalization of $6.88 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 0.60 and a beta of 1.88.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The business had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. During the same period last year, the business posted $0.55 earnings per share. Louisiana-Pacific’s quarterly revenue was up 33.2% compared to the same quarter last year. On average, analysts anticipate that Louisiana-Pacific will post 5.05 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $0.26 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.06%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 28.57%.

Insider Transactions at Louisiana-Pacific

In other news, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now directly owns 596,886 shares in the company, valued at approximately $55,773,027.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now directly owns 596,886 shares in the company, valued at approximately $55,773,027.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ozey K. Horton, Jr. sold 800 shares of Louisiana-Pacific stock in a transaction on Friday, August 9th. The shares were sold at an average price of $96.10, for a total value of $76,880.00. Following the transaction, the director now owns 29,008 shares in the company, valued at $2,787,668.80. The disclosure for this sale can be found here. Insiders have sold a total of 36,991 shares of company stock worth $3,443,269 in the last ninety days. Insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Louisiana-Pacific by 1.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,027 shares of the building manufacturing company’s stock valued at $1,237,000 after purchasing an additional 167 shares in the last quarter. GAMMA Investing LLC lifted its position in Louisiana-Pacific by 57.3% during the second quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. CWM LLC lifted its position in Louisiana-Pacific by 9.0% during the second quarter. CWM LLC now owns 2,279 shares of the building manufacturing company’s stock valued at $188,000 after purchasing an additional 188 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Louisiana-Pacific by 0.3% during the first quarter. Retirement Systems of Alabama now owns 80,596 shares of the building manufacturing company’s stock valued at $6,763,000 after acquiring an additional 220 shares during the period. Finally, Investment House LLC raised its holdings in Louisiana-Pacific by 5.5% during the second quarter. Investment House LLC now owns 4,769 shares of the building manufacturing company’s stock valued at $393,000 after acquiring an additional 250 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.