Analysts Set Louisiana-Pacific Co. (NYSE:LPX) Target Price at $73.71

Louisiana-Pacific Co. (NYSE:LPX) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $73.71.

Several research firms recently commented on LPX. TD Cowen reiterated a “hold” rating and issued a $75.00 price target on shares of Louisiana-Pacific in a research report on Thursday, January 11th. Truist Financial upped their price target on shares of Louisiana-Pacific from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. TheStreet downgraded shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. TD Securities upped their price target on shares of Louisiana-Pacific from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Finally, DA Davidson reiterated a “buy” rating and issued a $76.00 price target on shares of Louisiana-Pacific in a research report on Tuesday, February 13th.

Louisiana-Pacific Trading Down 2.0 %

Shares of Louisiana-Pacific stock opened at $75.27 on Tuesday. The company has a fifty day simple moving average of $75.77 and a 200-day simple moving average of $66.91. Louisiana-Pacific has a 12-month low of $49.47 and a 12-month high of $84.54. The company has a current ratio of 3.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 30.72 and a beta of 1.84.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, February 14th. The building manufacturing company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.17. Louisiana-Pacific had a net margin of 6.90% and a return on equity of 15.65%. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $618.60 million. During the same quarter in the prior year, the business posted $0.61 EPS. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities analysts forecast that Louisiana-Pacific will post 3.85 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 1.38%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.24. Louisiana-Pacific’s dividend payout ratio is presently 42.45%.

Insiders Place Their Bets

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $77.58, for a total transaction of $193,950.00. Following the completion of the transaction, the director now owns 25,995 shares in the company, valued at approximately $2,016,692.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Louisiana-Pacific

A number of large investors have recently made changes to their positions in LPX. Channing Capital Management LLC purchased a new position in shares of Louisiana-Pacific in the 4th quarter valued at about $73,662,000. Norges Bank purchased a new position in shares of Louisiana-Pacific in the 4th quarter valued at about $53,186,000. Balyasny Asset Management L.P. increased its holdings in shares of Louisiana-Pacific by 16,827.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 717,059 shares of the building manufacturing company’s stock valued at $50,789,000 after purchasing an additional 712,823 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Louisiana-Pacific by 83.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,563,117 shares of the building manufacturing company’s stock valued at $110,717,000 after purchasing an additional 712,671 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Louisiana-Pacific by 24.7% in the 1st quarter. First Trust Advisors LP now owns 3,311,921 shares of the building manufacturing company’s stock valued at $205,737,000 after purchasing an additional 655,132 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.