Truist Financial Cuts Louisiana-Pacific (NYSE:LPX) Price Target to $91.00

Louisiana-Pacific (NYSE:LPX) had its target price reduced by Truist Financial from $93.00 to $91.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the building manufacturing company’s stock.

Several other equities analysts have also recently weighed in on LPX. Barclays increased their price target on Louisiana-Pacific from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Research lowered Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. DA Davidson reiterated a “buy” rating and set a $114.00 price objective on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. Weiss Ratings raised Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Finally, Oppenheimer dropped their target price on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.80.

Louisiana-Pacific Stock Down 3.9%

LPX opened at $73.92 on Wednesday. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 62.64, a PEG ratio of 2.42 and a beta of 1.60. The firm has a 50 day moving average price of $74.51 and a 200-day moving average price of $78.96. Louisiana-Pacific has a twelve month low of $66.12 and a twelve month high of $102.86. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The company had revenue of $574.00 million for the quarter, compared to analysts’ expectations of $569.99 million. During the same quarter last year, the company posted $1.27 earnings per share. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. Equities research analysts forecast that Louisiana-Pacific will post 1.93 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 101.69%.

Institutional Investors Weigh In On Louisiana-Pacific

A number of hedge funds have recently modified their holdings of LPX. Eminence Capital LP raised its holdings in Louisiana-Pacific by 29.9% in the 4th 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 grew its holdings 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 valued at $285,639,000 after purchasing an additional 737,406 shares during the period. State Street Corp grew its holdings in Louisiana-Pacific by 1.3% during the fourth quarter. State Street Corp now owns 2,171,315 shares of the building manufacturing company’s stock valued at $175,355,000 after purchasing an additional 27,710 shares during the period. Price T Rowe Associates Inc. MD increased its position in Louisiana-Pacific by 23.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,723,824 shares of the building manufacturing company’s stock worth $139,218,000 after buying an additional 332,794 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Louisiana-Pacific by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,639,721 shares of the building manufacturing company’s stock worth $119,279,000 after buying an additional 15,232 shares in the last quarter. Institutional investors 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.