Louisiana-Pacific (NYSE:LPX) Price Target Raised to $101.00

Louisiana-Pacific (NYSE:LPX) had its price target hoisted by Bank of America from $85.00 to $101.00 in a research report report published on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the building manufacturing company’s stock.

LPX has been the subject of a number of other reports. TD upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Louisiana-Pacific in a research report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 target price for the company. Truist Financial reaffirmed a “buy” rating and issued a $93.00 price target (down from $95.00) on shares of Louisiana-Pacific in a research report on Friday, May 8th. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets raised Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 target price on the stock in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.80.

Louisiana-Pacific Stock Performance

LPX opened at $76.78 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. The company has a market cap of $5.36 billion, a PE ratio of 65.06, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60. The stock has a 50-day moving average of $74.53 and a 200-day moving average of $78.99. Louisiana-Pacific has a 52-week low of $66.12 and a 52-week high of $102.86.

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

Louisiana-Pacific Dividend Announcement

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

Hedge Funds Weigh In On Louisiana-Pacific

Several large investors have recently added to or reduced their stakes in LPX. Millennium Management LLC grew its holdings in shares of Louisiana-Pacific by 128.6% during the 1st quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after purchasing an additional 99,455 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Louisiana-Pacific in the first quarter worth $273,000. Goldman Sachs Group Inc. boosted its stake in Louisiana-Pacific by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock worth $25,274,000 after buying an additional 18,413 shares in the last quarter. Empowered Funds LLC increased its holdings in Louisiana-Pacific by 207.1% in the 1st quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock valued at $2,596,000 after buying an additional 19,029 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Louisiana-Pacific by 15.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock valued at $20,747,000 after buying an additional 29,846 shares during the period. 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.