Louisiana-Pacific (NYSE:LPX) Research Coverage Started at Wolfe Research

by · The Cerbat Gem

Wolfe Research assumed coverage on shares of Louisiana-Pacific (NYSE:LPX – Free Report) in a research report sent to investors on Thursday morning, MarketBeat reports. The firm issued an outperform rating and a $90.00 price objective on the building manufacturing company’s stock.

LPX has been the subject of several other reports. Bank of America raised their target price on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Truist Financial cut their price target on shares of Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. DA Davidson restated a “buy” rating and issued a $99.00 price target on shares of Louisiana-Pacific in a research report on Wednesday, September 2nd. Barclays decreased their price objective on shares of Louisiana-Pacific from $93.00 to $92.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Finally, Jefferies Financial Group started coverage on shares of Louisiana-Pacific in a research report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.67.

Check Out Our Latest Analysis on LPX

Louisiana-Pacific Stock Up 2.6%

Shares of Louisiana-Pacific stock opened at $67.42 on Thursday. Louisiana-Pacific has a 12-month low of $65.35 and a 12-month high of $100.34. The firm has a market capitalization of $4.71 billion, a PE ratio of 85.34, a price-to-earnings-growth ratio of 9.52 and a beta of 1.59. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $72.62 and its 200-day moving average is $74.22.

Louisiana-Pacific (NYSE:LPX – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The company had revenue of $664.00 million during the quarter, compared to analyst estimates of $667.31 million. Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS. Equities analysts anticipate that Louisiana-Pacific will post 1.17 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 14th. Louisiana-Pacific’s dividend payout ratio is 151.90%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in shares of Louisiana-Pacific by 128.6% during the 1st quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock valued at $16,259,000 after buying an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Louisiana-Pacific in the first quarter worth $273,000. Goldman Sachs Group Inc. raised its holdings in shares of Louisiana-Pacific by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock worth $25,274,000 after acquiring an additional 18,413 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Louisiana-Pacific by 207.1% during the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after acquiring an additional 19,029 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Louisiana-Pacific by 15.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock valued at $20,747,000 after purchasing an additional 29,846 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

About Louisiana-Pacific

(Get Free Report)

Louisiana-Pacific Corporation, operating as LP Building Solutions, manufactures building products used in residential, repair and remodeling, and commercial construction. Its portfolio includes oriented strand board (OSB) structural panels, siding, trim, and related engineered wood products designed for walls, roofs, floors, and exterior applications.

The company’s principal brands include LP SmartSide siding and trim, which are engineered wood products for residential and light-commercial exteriors, and LP Structural Solutions products, including OSB panels and specialty sheathing.

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