Louisiana-Pacific (NYSE:LPX) Given New $101.00 Price Target at Bank of America

Louisiana-Pacific (NYSE:LPX) had its target price boosted by equities research analysts at Bank of America from $85.00 to $101.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the building manufacturing company’s stock. Bank of America‘s target price would suggest a potential upside of 36.62% from the company’s current price.

LPX has been the subject of a number of other research reports. Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Jefferies Financial Group assumed coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price objective on the stock. Zacks Research lowered shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Barclays increased their target price on shares of Louisiana-Pacific from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, TD Securities upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Eleven 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 stock. Based on data from MarketBeat, Louisiana-Pacific currently has an average rating of “Moderate Buy” and a consensus target price of $97.60.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock traded up $1.73 during trading on Tuesday, reaching $73.92. The company’s stock had a trading volume of 527,227 shares, compared to its average volume of 1,129,532. The business has a 50 day moving average price of $74.37 and a 200-day moving average price of $79.15. Louisiana-Pacific has a 12-month low of $66.12 and a 12-month high of $102.86. The company has a market capitalization of $5.16 billion, a P/E ratio of 62.69, a price-to-earnings-growth ratio of 1.84 and a beta of 1.60. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20.

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

Institutional Trading of Louisiana-Pacific

Several large investors have recently modified their holdings of LPX. Wedge Capital Management L L P NC raised its position in shares of Louisiana-Pacific by 35.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 120,492 shares of the building manufacturing company’s stock worth $9,478,000 after purchasing an additional 31,734 shares during the last quarter. Handelsbanken Fonder AB increased its position in Louisiana-Pacific by 8.1% during the second quarter. Handelsbanken Fonder AB now owns 20,085 shares of the building manufacturing company’s stock worth $1,580,000 after buying an additional 1,500 shares in the last quarter. Valeo Financial Advisors LLC increased its position in Louisiana-Pacific by 1.6% during the second quarter. Valeo Financial Advisors LLC now owns 9,225 shares of the building manufacturing company’s stock worth $726,000 after buying an additional 147 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Louisiana-Pacific by 30.7% in the second quarter. GAMMA Investing LLC now owns 1,486 shares of the building manufacturing company’s stock worth $117,000 after acquiring an additional 349 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its position in shares of Louisiana-Pacific by 59.3% in the second quarter. Moody National Bank Trust Division now owns 20,006 shares of the building manufacturing company’s stock valued at $1,574,000 after acquiring an additional 7,445 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.