Louisiana-Pacific’s (LPX) “Buy” Rating Reiterated at Truist Financial

by · The Markets Daily

Truist Financial restated their buy rating on shares of Louisiana-Pacific (NYSE:LPX – Free Report) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $84.00 price objective on the building manufacturing company’s stock, down from their prior price objective of $89.00.

A number of other equities research analysts also recently issued reports on LPX. TD boosted their price target on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada lowered their price objective on shares of Louisiana-Pacific from $92.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price on shares of Louisiana-Pacific in a report on Wednesday. Bank of America cut their target price on Louisiana-Pacific from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Finally, Weiss Ratings upgraded Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Louisiana-Pacific presently has a consensus rating of “Moderate Buy” and an average price target of $88.27.

Check Out Our Latest Stock Report on Louisiana-Pacific

Louisiana-Pacific Trading Down 1.9%

LPX traded down $1.44 on Wednesday, hitting $75.53. The company had a trading volume of 1,228,196 shares, compared to its average volume of 1,264,805. The firm has a market cap of $5.28 billion, a P/E ratio of 77.07, a PEG ratio of 5.88 and a beta of 1.67. Louisiana-Pacific has a 1 year low of $62.18 and a 1 year high of $100.34. The company’s fifty day moving average price is $68.88 and its 200 day moving average price is $75.01. The company has a current ratio of 3.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The building manufacturing company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.18. The company had revenue of $691.00 million for the quarter, compared to analysts’ expectations of $671.27 million. Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. Louisiana-Pacific’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, equities analysts expect that Louisiana-Pacific will post 1.15 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, November 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. Louisiana-Pacific’s dividend payout ratio is 122.45%.

Institutional Trading of Louisiana-Pacific

Several hedge funds have recently made changes to their positions in LPX. Western Wealth Management LLC acquired a new position in shares of Louisiana-Pacific in the first quarter valued at approximately $25,000. Parallel Advisors LLC lifted its holdings in Louisiana-Pacific by 204.0% during the 1st quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock worth $28,000 after buying an additional 255 shares in the last quarter. Root Financial Partners LLC lifted its holdings in Louisiana-Pacific by 177.6% during the 1st quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock worth $32,000 after buying an additional 277 shares in the last quarter. Whittier Trust Co. lifted its holdings in Louisiana-Pacific by 138.1% during the 1st quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company’s stock worth $36,000 after buying an additional 290 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Louisiana-Pacific by 1,505.4% in the 1st quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company’s stock valued at $43,000 after buying an additional 557 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Louisiana-Pacific Company Profile

(Get Free Report)

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential, repair and remodeling, and outdoor construction. The company produces engineered wood products designed for use in structural framing, exterior siding, trim, and other building applications.

Its product portfolio includes LP SmartSide siding and trim, oriented strand board and other structural panel products, and solutions for outdoor buildings and construction projects. Louisiana-Pacific markets its products through building-material distributors, retailers, and specialty dealers.

Founded in 1972, Louisiana-Pacific is headquartered in Nashville, Tennessee.

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