Royal Bank of Canada Forecasts Strong Price Appreciation for Louisiana-Pacific (NYSE:LPX) Stock

Louisiana-Pacific (NYSE:LPX) had its price target boosted by Royal Bank of Canada from $114.00 to $115.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the building manufacturing company’s stock.

Other equities research analysts also recently issued reports about the stock. Loop Capital raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Wednesday. DA Davidson dropped their target price on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Truist Financial reduced their price target on Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. TD Securities reduced their target price on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a report on Thursday, February 20th. Finally, BMO Capital Markets raised their price objective on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific currently has an average rating of “Hold” and a consensus price target of $107.38.

Louisiana-Pacific Stock Up 0.3 %

LPX opened at $90.66 on Wednesday. Louisiana-Pacific has a twelve month low of $78.82 and a twelve month high of $122.87. The company’s 50-day moving average price is $88.99 and its two-hundred day moving average price is $102.67. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.24 and a beta of 1.94. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.14. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The business had revenue of $724.00 million during the quarter, compared to analyst estimates of $711.66 million. During the same period in the prior year, the company earned $1.53 earnings per share. Louisiana-Pacific’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts expect that Louisiana-Pacific will post 5.27 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.12 annualized dividend and a yield of 1.24%. Louisiana-Pacific’s payout ratio is 19.65%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Deutsche Bank AG increased its stake in Louisiana-Pacific by 23.1% in the 1st quarter. Deutsche Bank AG now owns 8,250 shares of the building manufacturing company’s stock worth $759,000 after purchasing an additional 1,546 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in Louisiana-Pacific by 111.3% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 18,287 shares of the building manufacturing company’s stock valued at $1,682,000 after buying an additional 9,631 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in Louisiana-Pacific by 33.3% in the 1st quarter. Legacy Capital Group California Inc. now owns 2,844 shares of the building manufacturing company’s stock worth $262,000 after acquiring an additional 711 shares during the last quarter. Wealthspire Advisors LLC increased its position in shares of Louisiana-Pacific by 3.3% in the first quarter. Wealthspire Advisors LLC now owns 6,292 shares of the building manufacturing company’s stock valued at $579,000 after acquiring an additional 200 shares during the period. Finally, Manchester Capital Management LLC boosted its holdings in shares of Louisiana-Pacific by 17.6% during the first quarter. Manchester Capital Management LLC now owns 3,964 shares of the building manufacturing company’s stock worth $365,000 after purchasing an additional 592 shares during the period. 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.