Louisiana-Pacific (NYSE:LPX) Given New $74.00 Price Target at The Goldman Sachs Group

Louisiana-Pacific (NYSE:LPX) had its price target upped by equities research analysts at The Goldman Sachs Group from $66.00 to $74.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the building manufacturing company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 4.30% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Louisiana-Pacific in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price objective for the company. Barclays increased their target price on Louisiana-Pacific from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Bank of America raised their price target on Louisiana-Pacific from $85.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Oppenheimer dropped their price objective on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $114.00 price objective on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.64.

Louisiana-Pacific Price Performance

Shares of NYSE LPX opened at $77.33 on Thursday. The stock has a fifty day moving average price of $75.14 and a 200 day moving average price of $77.81. Louisiana-Pacific has a 1-year low of $66.12 and a 1-year high of $102.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The company has a market cap of $5.40 billion, a PE ratio of 65.53, a P/E/G ratio of 2.50 and a beta of 1.62.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). The firm had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $667.31 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The firm’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. Sell-side analysts forecast that Louisiana-Pacific will post 1.86 EPS for the current year.

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPX. Boston Partners acquired a new stake in shares of Louisiana-Pacific in the third quarter valued at approximately $100,770,000. Capital Research Global Investors lifted its stake in Louisiana-Pacific by 306.2% in the 4th quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company’s stock valued at $102,848,000 after buying an additional 960,000 shares in the last quarter. Eminence Capital LP grew its holdings in Louisiana-Pacific by 29.9% during the 4th quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock valued at $326,927,000 after buying an additional 932,177 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in Louisiana-Pacific during the first quarter worth $56,596,000. Finally, Norges Bank acquired a new position in shares of Louisiana-Pacific in the fourth quarter worth $60,184,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

About Louisiana-Pacific

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.