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

Louisiana-Pacific (NYSE:LPX) had its price objective dropped by equities researchers at Truist Financial from $93.00 to $91.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the building manufacturing company’s stock. Truist Financial’s price target would suggest a potential upside of 18.53% from the company’s current price.

LPX has been the topic of several other reports. Barclays raised their target price on Louisiana-Pacific from $89.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday. DA Davidson reiterated a “buy” rating and set a $114.00 price target on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. Zacks Research cut Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Oppenheimer lowered their price target on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Bank of America lifted their price objective on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday. 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 company’s stock. According to data from MarketBeat, Louisiana-Pacific has a consensus rating of “Moderate Buy” and a consensus target price of $97.80.

Louisiana-Pacific Price Performance

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

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

Institutional Investors Weigh In On Louisiana-Pacific

A number of institutional investors have recently added to or reduced their stakes in LPX. Versant Capital Management Inc boosted its stake in Louisiana-Pacific by 27.3% during the 2nd quarter. Versant Capital Management Inc now owns 630 shares of the building manufacturing company’s stock valued at $50,000 after purchasing an additional 135 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Louisiana-Pacific by 26.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 692 shares of the building manufacturing company’s stock worth $50,000 after buying an additional 143 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Louisiana-Pacific by 1.6% in the second quarter. Valeo Financial Advisors LLC now owns 9,225 shares of the building manufacturing company’s stock valued at $726,000 after buying an additional 147 shares during the period. WINTON GROUP Ltd lifted its holdings in shares of Louisiana-Pacific by 2.7% in the third quarter. WINTON GROUP Ltd now owns 6,877 shares of the building manufacturing company’s stock valued at $611,000 after buying an additional 183 shares during the period. Finally, Tidal Investments LLC boosted its stake in Louisiana-Pacific by 1.2% during the second quarter. Tidal Investments LLC now owns 21,339 shares of the building manufacturing company’s stock valued at $1,835,000 after buying an additional 247 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.