DA Davidson Reaffirms “Buy” Rating for Louisiana-Pacific (NYSE:LPX)

Louisiana-Pacific (NYSE:LPX)‘s stock had its “buy” rating restated by analysts at DA Davidson in a report released on Thursday,Benzinga reports. They currently have a $117.00 price target on the building manufacturing company’s stock. DA Davidson’s price target points to a potential upside of 50.49% from the stock’s previous close.

LPX has been the topic of several other research reports. Vertical Research started coverage on Louisiana-Pacific in a report on Monday, October 20th. They set a “buy” rating on the stock. Wall Street Zen cut shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. TD Securities decreased their price target on shares of Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Louisiana-Pacific in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada decreased their price objective on shares of Louisiana-Pacific from $114.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $106.33.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $77.74 on Thursday. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a 52-week low of $73.42 and a 52-week high of $122.87. The firm has a market cap of $5.41 billion, a PE ratio of 18.34 and a beta of 1.80. The company’s 50 day moving average is $86.08 and its two-hundred day moving average is $90.00.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, November 5th. The building manufacturing company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $670.26 million. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The business’s revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. On average, research analysts expect that Louisiana-Pacific will post 5.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Stephen E. Macadam bought 3,200 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $78.06 per share, with a total value of $249,792.00. Following the transaction, the director directly owned 41,149 shares of the company’s stock, valued at approximately $3,212,090.94. This represents a 8.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

Several large investors have recently bought and sold shares of LPX. Chung Wu Investment Group LLC acquired a new stake in shares of Louisiana-Pacific during the second quarter worth about $26,000. North Ridge Wealth Advisors Inc. purchased a new position in Louisiana-Pacific during the 2nd quarter worth approximately $26,000. Mid American Wealth Advisory Group Inc. acquired a new position in Louisiana-Pacific during the second quarter worth approximately $34,000. Versant Capital Management Inc lifted its stake in Louisiana-Pacific by 34.3% in the third quarter. Versant Capital Management Inc now owns 497 shares of the building manufacturing company’s stock valued at $44,000 after buying an additional 127 shares during the last quarter. Finally, RMG Wealth Management LLC acquired a new stake in shares of Louisiana-Pacific in the second quarter valued at approximately $44,000. Institutional investors and hedge funds 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.