Louisiana-Pacific (NYSE:LPX) Stock Gets Price Target Trim from Bank of America

Louisiana-Pacific (NYSE:LPX) had its price target decreased by Bank of America from $100.00 to $85.00 in a research note published on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the building manufacturing company’s stock.

LPX has been the subject of several other research reports. Jefferies Financial Group initiated coverage on shares of Louisiana-Pacific in a research note on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price objective for the company. Truist Financial cut their price objective on shares of Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Barclays decreased their target price on shares of Louisiana-Pacific from $92.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. TD raised their target price on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group lowered their target price on Louisiana-Pacific from $74.00 to $64.00 and set a “sell” rating on the stock in a report on Monday, October 12th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.50.

Louisiana-Pacific Trading Up 1.0%

Shares of LPX opened at $70.06 on Wednesday. Louisiana-Pacific has a 52-week low of $62.18 and a 52-week high of $100.34. The stock has a market cap of $4.90 billion, a PE ratio of 59.31, a price-to-earnings-growth ratio of 5.37 and a beta of 1.63. The firm’s fifty day moving average is $68.63 and its two-hundred day moving average is $72.21. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The business had revenue of $664.00 million during the quarter, compared to analyst estimates of $667.31 million. Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. Louisiana-Pacific’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. Research analysts forecast that Louisiana-Pacific will post 1.13 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Louisiana-Pacific’s dividend payout ratio (DPR) is 151.90%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Louisiana-Pacific in the second quarter valued at about $506,638,000. Berkshire Hathaway Inc acquired a new stake in Louisiana-Pacific during the second quarter worth about $445,593,000. Eminence Capital LP raised its stake in Louisiana-Pacific by 29.9% during the fourth quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock worth $326,927,000 after purchasing an additional 932,177 shares during the period. 59 North Capital Management LP raised its stake in Louisiana-Pacific by 26.3% during the fourth quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company’s stock worth $285,639,000 after purchasing an additional 737,406 shares during the period. Finally, Maple Rock Capital Partners Inc. raised its stake in Louisiana-Pacific by 36.8% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,521,859 shares of the building manufacturing company’s stock worth $119,709,000 after purchasing an additional 409,300 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential and light commercial construction. The company’s portfolio includes engineered wood siding and trim, oriented strand board (OSB), and other engineered wood products designed for wall, roof, and structural applications.

Louisiana-Pacific is best known for its LP SmartSide siding and trim products, which are made from engineered wood and marketed as alternatives to traditional wood siding.