Louisiana-Pacific (NYSE:LPX) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Louisiana-Pacific (NYSE:LPX) in a report published on Thursday, MarketBeat reports. The brokerage issued an outperform rating on the building manufacturing company’s stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Louisiana-Pacific in a research report on Monday, December 29th. Zacks Research upgraded Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Truist Financial raised their price objective on Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. DA Davidson reaffirmed a “buy” rating and issued a $117.00 target price on shares of Louisiana-Pacific in a research report on Wednesday, January 28th. Finally, TD Securities lowered their target price on Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.57.

Louisiana-Pacific Stock Performance

Louisiana-Pacific stock opened at $93.97 on Thursday. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 30.41 and a beta of 1.81. Louisiana-Pacific has a 12 month low of $73.42 and a 12 month high of $119.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.93 and a quick ratio of 1.72. The stock’s 50-day moving average is $86.25 and its 200-day moving average is $88.25.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Louisiana-Pacific had a return on equity of 14.90% and a net margin of 7.69%.The business had revenue of $663.00 million for the quarter, compared to analyst estimates of $670.26 million. During the same period last year, the company posted $1.22 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities analysts anticipate that Louisiana-Pacific will post 5.27 earnings per share for the current year.

Insider Buying and Selling at Louisiana-Pacific

In other news, CEO William Bradley Southern sold 21,252 shares of Louisiana-Pacific stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $88.19, for a total transaction of $1,874,213.88. Following the sale, the chief executive officer directly owned 460,883 shares of the company’s stock, valued at approximately $40,645,271.77. The trade was a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 141,676 shares of company stock worth $12,648,096 in the last three months. 1.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Louisiana-Pacific

A number of hedge funds have recently bought and sold shares of LPX. American Century Companies Inc. increased its stake in Louisiana-Pacific by 5.7% during the second quarter. American Century Companies Inc. now owns 555,489 shares of the building manufacturing company’s stock valued at $47,766,000 after purchasing an additional 29,803 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Louisiana-Pacific by 27.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 57,876 shares of the building manufacturing company’s stock valued at $5,142,000 after buying an additional 12,490 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of Louisiana-Pacific by 57.2% in the 2nd quarter. Ceredex Value Advisors LLC now owns 124,100 shares of the building manufacturing company’s stock valued at $10,671,000 after buying an additional 45,175 shares during the period. UniSuper Management Pty Ltd grew its position in shares of Louisiana-Pacific by 31.3% during the 3rd quarter. UniSuper Management Pty Ltd now owns 49,785 shares of the building manufacturing company’s stock valued at $4,423,000 after buying an additional 11,873 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Louisiana-Pacific during the second quarter worth about $424,000. 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.