Louisiana-Pacific (NYSE:LPX) Lowered to “Hold” at Zacks Investment Research

Louisiana-Pacific (NYSE:LPX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Friday, November 10th.

According to Zacks, “Louisiana-Pacific Corporation manufactures building materials and engineered wood products in the United States, Canada, Chile and Brazil. The Company’s products are used by homebuilders and light commercial builders. Louisiana-Pacific’s products include oriented strand board sheathing, flooring, radiant barrier panels, siding and trim, I-joists, laminated veneer lumber, laminated strand lumber and interior decorative moulding. “

A number of other research analysts also recently commented on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $32.00 target price on shares of Louisiana-Pacific in a research report on Wednesday, September 6th. Stephens started coverage on shares of Louisiana-Pacific in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $30.00 target price for the company. Longbow Research reissued a “neutral” rating on shares of Louisiana-Pacific in a report on Tuesday, October 10th. BidaskClub raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, BMO Capital Markets lowered shares of Louisiana-Pacific from a “market perform” rating to an “underperform” rating and boosted their price target for the stock from $22.00 to $24.00 in a report on Friday, September 29th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Louisiana-Pacific has an average rating of “Hold” and a consensus target price of $29.67.

Louisiana-Pacific (NYSE LPX) traded down $0.30 during mid-day trading on Friday, reaching $27.60. 1,856,700 shares of the company’s stock traded hands, compared to its average volume of 1,809,530. The company has a market capitalization of $3,959.39, a price-to-earnings ratio of 14.85, a P/E/G ratio of 2.64 and a beta of 1.50. The company has a quick ratio of 4.31, a current ratio of 5.25 and a debt-to-equity ratio of 0.24. Louisiana-Pacific has a fifty-two week low of $18.69 and a fifty-two week high of $29.44.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Monday, November 6th. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). Louisiana-Pacific had a return on equity of 20.27% and a net margin of 11.72%. The firm had revenue of $718.30 million during the quarter, compared to the consensus estimate of $731.47 million. During the same quarter last year, the business posted $0.32 EPS. Louisiana-Pacific’s revenue was up 20.4% compared to the same quarter last year. research analysts anticipate that Louisiana-Pacific will post 2.07 EPS for the current fiscal year.

In other news, SVP Michael Sims sold 5,871 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $27.06, for a total transaction of $158,869.26. Following the sale, the senior vice president now owns 41,523 shares of the company’s stock, valued at $1,123,612.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rebecca Anne Barckley sold 5,128 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $27.00, for a total transaction of $138,456.00. Following the sale, the insider now directly owns 7,305 shares in the company, valued at approximately $197,235. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.

A number of large investors have recently modified their holdings of LPX. Iridian Asset Management LLC CT increased its stake in Louisiana-Pacific by 71.6% in the second quarter. Iridian Asset Management LLC CT now owns 4,846,075 shares of the construction company’s stock valued at $116,839,000 after purchasing an additional 2,021,510 shares during the last quarter. AJO LP purchased a new position in Louisiana-Pacific in the second quarter valued at approximately $43,821,000. Prudential Financial Inc. increased its stake in Louisiana-Pacific by 411.7% in the third quarter. Prudential Financial Inc. now owns 2,068,380 shares of the construction company’s stock valued at $56,012,000 after purchasing an additional 1,664,170 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Louisiana-Pacific by 264.0% in the third quarter. JPMorgan Chase & Co. now owns 2,164,191 shares of the construction company’s stock valued at $61,830,000 after purchasing an additional 1,569,696 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Louisiana-Pacific by 9.9% in the second quarter. Vanguard Group Inc. now owns 14,500,326 shares of the construction company’s stock valued at $349,603,000 after purchasing an additional 1,302,444 shares during the last quarter. 93.12% of the stock is currently owned by hedge funds and other institutional investors.

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Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.

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