Louisiana-Pacific (NYSE:LPX) Stock Rating Lowered by Seaport Res Ptn

Louisiana-Pacific (NYSE:LPX) was downgraded by investment analysts at Seaport Res Ptn from a “buy” rating to a “neutral” rating in a report released on Thursday, Zacks.com reports. Seaport Res Ptn also issued estimates for Louisiana-Pacific’s Q2 2024 earnings at $1.65 EPS, Q3 2024 earnings at $1.02 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $4.60 EPS.

LPX has been the topic of a number of other reports. Loop Capital initiated coverage on shares of Louisiana-Pacific in a research note on Friday, May 3rd. They issued a “hold” rating and a $82.00 target price on the stock. TD Cowen reaffirmed a “hold” rating and issued a $75.00 price target on shares of Louisiana-Pacific in a research report on Thursday, January 11th. TheStreet cut Louisiana-Pacific from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. DA Davidson raised their target price on Louisiana-Pacific from $90.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. Finally, TD Securities upped their price target on Louisiana-Pacific from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific presently has an average rating of “Moderate Buy” and an average target price of $83.89.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX opened at $86.96 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.00 and a quick ratio of 1.54. The stock has a market capitalization of $6.29 billion, a P/E ratio of 35.49 and a beta of 1.87. The business has a 50-day moving average of $77.67 and a two-hundred day moving average of $69.39. Louisiana-Pacific has a fifty-two week low of $49.47 and a fifty-two week high of $88.40.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, May 8th. The building manufacturing company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.40. Louisiana-Pacific had a return on equity of 15.65% and a net margin of 6.90%. The firm had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $686.84 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The company’s revenue was up 24.0% on a year-over-year basis. On average, equities research analysts predict that Louisiana-Pacific will post 4.89 EPS for the current fiscal year.

Insider Activity at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $77.58, for a total transaction of $193,950.00. Following the completion of the sale, the director now owns 25,995 shares in the company, valued at $2,016,692.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Louisiana-Pacific

Institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its holdings in Louisiana-Pacific by 16.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,648 shares of the building manufacturing company’s stock worth $3,914,000 after buying an additional 6,533 shares during the last quarter. Entropy Technologies LP bought a new position in Louisiana-Pacific during the 1st quarter worth approximately $334,000. Barings LLC acquired a new position in Louisiana-Pacific during the first quarter valued at approximately $2,009,000. Russell Investments Group Ltd. increased its stake in Louisiana-Pacific by 3.5% in the first quarter. Russell Investments Group Ltd. now owns 215,051 shares of the building manufacturing company’s stock valued at $18,045,000 after purchasing an additional 7,367 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Louisiana-Pacific in the first quarter worth $301,000. 94.73% of the stock is owned by institutional investors and hedge funds.

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.