BMO Capital Markets Downgrades Louisiana-Pacific Corporation (LPX) to Underperform
BMO Capital Markets cut shares of Louisiana-Pacific Corporation (NYSE:LPX) from a market perform rating to an underperform rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm currently has $24.00 target price on the construction company’s stock, up from their prior target price of $22.00. The analysts noted that the move was a valuation call.
A number of other analysts also recently commented on LPX. Zacks Investment Research upgraded shares of Louisiana-Pacific Corporation from a hold rating to a buy rating and set a $27.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub cut Louisiana-Pacific Corporation from a buy rating to a hold rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a buy rating and set a $32.00 target price on shares of Louisiana-Pacific Corporation in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $28.40.
Louisiana-Pacific Corporation (NYSE LPX) opened at 27.61 on Friday. The firm’s 50-day moving average is $26.12 and its 200 day moving average is $24.88. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 15.72 and a beta of 1.31. Louisiana-Pacific Corporation has a 52-week low of $17.08 and a 52-week high of $29.44.
Louisiana-Pacific Corporation (NYSE:LPX) last issued its earnings results on Tuesday, August 1st. The construction company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). The business had revenue of $694.00 million during the quarter, compared to analyst estimates of $700.73 million. Louisiana-Pacific Corporation had a net margin of 10.50% and a return on equity of 17.13%. Louisiana-Pacific Corporation’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. On average, equities research analysts predict that Louisiana-Pacific Corporation will post $2.13 EPS for the current fiscal year.
In other news, SVP Michael Sims sold 5,871 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $27.06, for a total value of $158,869.26. Following the sale, the senior vice president now directly owns 41,523 shares of the company’s stock, valued at approximately $1,123,612.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rebecca Anne Barckley sold 5,128 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $27.00, for a total transaction of $138,456.00. Following the completion of the sale, the insider now directly owns 7,305 shares in the company, valued at $197,235. The disclosure for this sale can be found here. Insiders own 1.48% of the company’s stock.
Several hedge funds have recently modified their holdings of LPX. BlackRock Inc. boosted its position in shares of Louisiana-Pacific Corporation by 24,793.7% during the 1st quarter. BlackRock Inc. now owns 16,481,360 shares of the construction company’s stock worth $409,068,000 after purchasing an additional 16,415,153 shares during the period. Vanguard Group Inc. increased its holdings in Louisiana-Pacific Corporation by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 14,500,326 shares of the construction company’s stock valued at $349,603,000 after purchasing an additional 1,302,444 shares during the last quarter. Iridian Asset Management LLC CT increased its holdings in Louisiana-Pacific Corporation by 71.6% in the 2nd quarter. Iridian Asset Management LLC CT now owns 4,846,075 shares of the construction company’s stock valued at $116,839,000 after purchasing an additional 2,021,510 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Louisiana-Pacific Corporation by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,793,951 shares of the construction company’s stock valued at $115,583,000 after purchasing an additional 95,195 shares during the last quarter. Finally, State Street Corp raised its position in Louisiana-Pacific Corporation by 4.5% in the second quarter. State Street Corp now owns 4,649,675 shares of the construction company’s stock valued at $112,109,000 after purchasing an additional 202,141 shares during the period. Hedge funds and other institutional investors own 91.10% of the company’s stock.
About Louisiana-Pacific Corporation
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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