Louisiana-Pacific (NYSE:LPX) Price Target Raised to $90.00

Louisiana-Pacific (NYSE:LPX) had its price objective boosted by TD from $86.00 to $90.00 in a research note published on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the building manufacturing company’s stock.

Other research analysts have also issued research reports about the company. Oppenheimer reduced their price target on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Zacks Research downgraded Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Truist Financial reiterated a “buy” rating and issued a $93.00 target price (down from $95.00) on shares of Louisiana-Pacific in a research note on Friday, May 8th. DA Davidson reiterated a “buy” rating and set a $114.00 target price on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. Finally, Bank of America raised their price target on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.80.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $76.78 on Tuesday. Louisiana-Pacific has a 1 year low of $66.12 and a 1 year high of $102.86. The company’s 50 day simple moving average is $74.53 and its 200 day simple moving average is $78.99. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 65.06, a PEG ratio of 2.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.14 by $0.24. The firm had revenue of $574.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. On average, sell-side analysts predict that Louisiana-Pacific will post 1.93 EPS for the current 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 $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is 101.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eminence Capital LP grew its position in Louisiana-Pacific by 29.9% during the fourth quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock valued at $326,927,000 after acquiring an additional 932,177 shares during the period. 59 North Capital Management LP raised its holdings in shares of Louisiana-Pacific by 26.3% in the 4th quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company’s stock worth $285,639,000 after purchasing an additional 737,406 shares during the period. State Street Corp raised its holdings in shares of Louisiana-Pacific by 1.3% in the 4th quarter. State Street Corp now owns 2,171,315 shares of the building manufacturing company’s stock worth $175,355,000 after purchasing an additional 27,710 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Louisiana-Pacific by 23.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,723,824 shares of the building manufacturing company’s stock valued at $139,218,000 after purchasing an additional 332,794 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Louisiana-Pacific by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,639,721 shares of the building manufacturing company’s stock valued at $119,279,000 after purchasing an additional 15,232 shares in the last quarter. Institutional investors and hedge funds 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.