Zacks Research Downgrades Louisiana-Pacific (NYSE:LPX) to Strong Sell

Louisiana-Pacific (NYSE:LPX) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on LPX. Barclays cut their price objective on shares of Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Truist Financial reaffirmed a “buy” rating and set a $93.00 price target (down from $95.00) on shares of Louisiana-Pacific in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group began coverage on shares of Louisiana-Pacific in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.78.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock opened at $78.75 on Tuesday. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 66.74, a price-to-earnings-growth ratio of 1.98 and a beta of 1.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. The stock has a 50 day moving average price of $74.17 and a 200-day moving average price of $79.65. Louisiana-Pacific has a one year low of $66.12 and a one year high of $102.86.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.24. The company had revenue of $574.00 million for the quarter, compared to analyst estimates of $569.99 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.Louisiana-Pacific’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 EPS. Equities analysts expect that Louisiana-Pacific will post 2 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Louisiana-Pacific by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,549,853 shares of the building manufacturing company’s stock valued at $137,666,000 after purchasing an additional 28,535 shares during the period. Eminence Capital LP increased its holdings in Louisiana-Pacific by 7.9% during the 3rd quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company’s stock worth $276,822,000 after purchasing an additional 228,521 shares during the period. Tudor Investment Corp ET AL purchased a new position in Louisiana-Pacific during the 3rd quarter worth $14,285,000. Fernbridge Capital Management LP raised its position in Louisiana-Pacific by 284.5% during the 3rd quarter. Fernbridge Capital Management LP now owns 820,755 shares of the building manufacturing company’s stock valued at $72,916,000 after purchasing an additional 607,319 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Louisiana-Pacific by 24.0% during the 3rd quarter. American Century Companies Inc. now owns 688,772 shares of the building manufacturing company’s stock valued at $61,191,000 after purchasing an additional 133,283 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.