Louisiana-Pacific (NYSE:LPX) Given New $114.00 Price Target at DA Davidson

Louisiana-Pacific (NYSE:LPX) had its price objective cut by DA Davidson from $117.00 to $114.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the building manufacturing company’s stock.

A number of other equities research analysts have also recently issued reports on LPX. Zacks Research upgraded shares of Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. TD Securities reduced their price target on Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $104.00 price objective on shares of Louisiana-Pacific in a report on Wednesday, February 18th. 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 note on Tuesday, January 6th. Finally, Oppenheimer began coverage on Louisiana-Pacific in a research report on Thursday, February 5th. They set an “outperform” rating for the company. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Louisiana-Pacific presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Louisiana-Pacific Stock Up 0.1%

Shares of Louisiana-Pacific stock opened at $81.40 on Monday. The stock’s fifty day moving average is $87.91 and its 200-day moving average is $88.29. The company has a quick ratio of 1.53, a current ratio of 2.78 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.68 billion, a PE ratio of 38.95 and a beta of 1.81. Louisiana-Pacific has a 12-month low of $73.42 and a 12-month high of $103.25.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, February 17th. The building manufacturing company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09. Louisiana-Pacific had a net margin of 5.39% and a return on equity of 10.72%. The firm had revenue of $567.00 million for the quarter, compared to analysts’ expectations of $589.96 million. During the same period in the previous year, the company posted $1.03 EPS. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. Equities analysts anticipate that Louisiana-Pacific will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.30 dividend. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, February 27th. Louisiana-Pacific’s payout ratio is presently 53.59%.

Insider Transactions at Louisiana-Pacific

In other news, CEO William Bradley Southern sold 14,166 shares of Louisiana-Pacific stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $89.29, for a total value of $1,264,882.14. Following the completion of the sale, the chief executive officer directly owned 461,719 shares of the company’s stock, valued at approximately $41,226,889.51. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F Nicholas Grasberger III purchased 20,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were purchased at an average cost of $85.49 per share, for a total transaction of $1,709,800.00. Following the purchase, the director directly owned 38,954 shares of the company’s stock, valued at $3,330,177.46. This trade represents a 105.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 155,842 shares of company stock worth $13,912,978. Insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Louisiana-Pacific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Louisiana-Pacific during the fourth quarter worth $248,000. Corient Private Wealth LLC raised its stake in Louisiana-Pacific by 35.4% during the 4th quarter. Corient Private Wealth LLC now owns 7,459 shares of the building manufacturing company’s stock worth $602,000 after buying an additional 1,952 shares during the period. Alpine Woods Capital Investors LLC bought a new position in Louisiana-Pacific during the fourth quarter worth about $665,000. Empowered Funds LLC bought a new position in Louisiana-Pacific during the fourth quarter worth about $810,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Louisiana-Pacific in the fourth quarter valued at about $58,000. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Company Profile

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.