Louisiana-Pacific (NYSE:LPX) Shares Down 4.1% on Analyst Downgrade

Louisiana-Pacific Co. (NYSE:LPXGet Rating)’s share price was down 4.1% on Thursday after The Goldman Sachs Group lowered their price target on the stock from $90.00 to $65.00. The Goldman Sachs Group currently has a neutral rating on the stock. Louisiana-Pacific traded as low as $50.76 and last traded at $51.26. Approximately 47,010 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,358,167 shares. The stock had previously closed at $53.47.

A number of other equities analysts also recently commented on LPX. TD Securities decreased their target price on Louisiana-Pacific from $85.00 to $75.00 in a research note on Thursday. Bank of America downgraded Louisiana-Pacific from a “buy” rating to a “neutral” rating and set a $67.00 target price for the company. in a research note on Thursday. StockNews.com started coverage on Louisiana-Pacific in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, DA Davidson reiterated a “buy” rating on shares of Louisiana-Pacific in a research report on Wednesday, February 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.25.

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 7,635 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $75.02, for a total value of $572,777.70. Following the completion of the sale, the director now directly owns 31,522 shares in the company, valued at $2,364,780.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Louisiana-Pacific by 22.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,069 shares of the building manufacturing company’s stock worth $1,259,000 after purchasing an additional 2,958 shares during the period. Euclidean Technologies Management LLC bought a new position in shares of Louisiana-Pacific in the fourth quarter valued at $250,000. ARS Wealth Advisors Group LLC bought a new position in shares of Louisiana-Pacific in the fourth quarter valued at $274,000. Exchange Traded Concepts LLC increased its holdings in shares of Louisiana-Pacific by 51.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,147 shares of the building manufacturing company’s stock valued at $90,000 after buying an additional 390 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Louisiana-Pacific by 41.6% in the fourth quarter. Raymond James & Associates now owns 46,100 shares of the building manufacturing company’s stock valued at $3,612,000 after buying an additional 13,554 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

The company has a market cap of $4.25 billion, a P/E ratio of 3.12 and a beta of 1.53. The company has a fifty day simple moving average of $66.01 and a 200-day simple moving average of $68.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 2.09.

Louisiana-Pacific (NYSE:LPXGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The building manufacturing company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.54. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Louisiana-Pacific had a return on equity of 105.01% and a net margin of 31.62%. The firm’s revenue was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.01 earnings per share. On average, analysts anticipate that Louisiana-Pacific Co. will post 14.87 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date was Wednesday, May 11th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 5.31%.

About Louisiana-Pacific (NYSE:LPX)

Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.

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