Zacks Research Upgrades Louisiana-Pacific (NYSE:LPX) to Hold

Louisiana-Pacific (NYSE:LPX) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other research firms also recently issued reports on LPX. Weiss Ratings raised Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Bank of America increased their target price on Louisiana-Pacific from $85.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Truist Financial cut their target price on shares of Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Jefferies Financial Group started coverage on shares of Louisiana-Pacific in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price target on the stock. Finally, TD upped 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. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.33.

Louisiana-Pacific Trading Up 2.6%

Shares of LPX stock opened at $66.97 on Monday. Louisiana-Pacific has a 12-month low of $62.18 and a 12-month high of $100.34. The company has a current ratio of 3.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $69.96 and its 200-day moving average price is $72.53. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 84.78, a price-to-earnings-growth ratio of 9.24 and a beta of 1.63.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The firm had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $667.31 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Louisiana-Pacific’s quarterly revenue was down 12.1% on a year-over-year basis. Equities research analysts predict that Louisiana-Pacific will post 1.17 EPS for the current fiscal year.

Institutional Trading of Louisiana-Pacific

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Berkshire Hathaway Inc bought a new position in shares of Louisiana-Pacific in the second quarter worth about $445,593,000. Principal Financial Group Inc. increased its stake in Louisiana-Pacific by 20.5% in the 1st quarter. Principal Financial Group Inc. now owns 497,852 shares of the building manufacturing company’s stock worth $36,219,000 after buying an additional 84,661 shares during the period. Legal & General Group Plc bought a new stake in Louisiana-Pacific during the 2nd quarter valued at about $7,219,000. Bank of America Corp DE bought a new stake in Louisiana-Pacific during the 2nd quarter valued at about $26,389,000. Finally, Maple Rock Capital Partners Inc. boosted its position in Louisiana-Pacific by 36.8% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,521,859 shares of the building manufacturing company’s stock valued at $119,709,000 after buying an additional 409,300 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential and light commercial construction. The company’s portfolio includes engineered wood siding and trim, oriented strand board (OSB), and other engineered wood products designed for wall, roof, and structural applications.

Louisiana-Pacific is best known for its LP SmartSide siding and trim products, which are made from engineered wood and marketed as alternatives to traditional wood siding.