Louisiana-Pacific (NYSE:LPX) Downgraded by Zacks Research to “Strong Sell”

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

Other analysts also recently issued research reports about the stock. Oppenheimer lowered their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. DA Davidson reissued a “buy” rating and set a $114.00 target price on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. BMO Capital Markets upgraded shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 target price for the company in a research note on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target for the company. Finally, TD raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.78.

Louisiana-Pacific Price Performance

Shares of NYSE LPX opened at $78.75 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. Louisiana-Pacific has a 1-year low of $66.12 and a 1-year high of $102.86. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 66.74, a PEG ratio of 1.98 and a beta of 1.59. The business has a 50-day moving average of $74.17 and a 200-day moving average of $79.65.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.14 by $0.24. The business had revenue of $574.00 million for the quarter, compared to the consensus estimate of $569.99 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The company’s revenue was down 20.7% on a year-over-year basis. During the same period last year, the business posted $1.27 EPS. On average, equities analysts anticipate that Louisiana-Pacific will post 2 EPS for the current fiscal year.

Hedge Funds Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its stake in shares of Louisiana-Pacific by 128.6% in the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after buying an additional 99,455 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Louisiana-Pacific during the 1st quarter valued at $273,000. Goldman Sachs Group Inc. boosted its stake in Louisiana-Pacific by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock valued at $25,274,000 after acquiring an additional 18,413 shares during the last quarter. Empowered Funds LLC grew its holdings in Louisiana-Pacific by 207.1% during the 1st quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after acquiring an additional 19,029 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Louisiana-Pacific by 15.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock worth $20,747,000 after acquiring an additional 29,846 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.