Louisiana-Pacific (LPX) Stock Rating Upgraded by Zacks Investment Research
Louisiana-Pacific (NYSE:LPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $31.00 target price on the construction company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.12% from the company’s current price.
According to Zacks, “Louisiana-Pacific Corporation manufactures building materials and engineered wood products in the United States, Canada, Chile and Brazil. The Company’s products are used by homebuilders and light commercial builders. Louisiana-Pacific’s products include oriented strand board sheathing, flooring, radiant barrier panels, siding and trim, I-joists, laminated veneer lumber, laminated strand lumber and interior decorative moulding. “
LPX has been the topic of several other research reports. Longbow Research reissued a “neutral” rating on shares of Louisiana-Pacific in a research note on Tuesday, October 10th. Royal Bank of Canada reissued a “buy” rating and issued a $37.00 target price on shares of Louisiana-Pacific in a research note on Monday, October 30th. BMO Capital Markets lowered Louisiana-Pacific from a “market perform” rating to an “underperform” rating and increased their target price for the company from $22.00 to $24.00 in a research note on Friday, September 29th. They noted that the move was a valuation call. Vertical Research raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Finally, Stephens initiated coverage on Louisiana-Pacific in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $29.33.
Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Monday, November 6th. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05). Louisiana-Pacific had a net margin of 11.72% and a return on equity of 20.27%. The firm had revenue of $718.30 million for the quarter, compared to analyst estimates of $731.47 million. During the same period last year, the company earned $0.32 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. analysts forecast that Louisiana-Pacific will post 2.21 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. increased its holdings in shares of Louisiana-Pacific by 411.7% in the third quarter. Prudential Financial Inc. now owns 2,068,380 shares of the construction company’s stock worth $56,012,000 after acquiring an additional 1,664,170 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Louisiana-Pacific by 17.8% in the third quarter. Parametric Portfolio Associates LLC now owns 455,434 shares of the construction company’s stock worth $12,333,000 after acquiring an additional 68,963 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Louisiana-Pacific by 1,524.2% in the third quarter. Public Employees Retirement System of Ohio now owns 94,170 shares of the construction company’s stock worth $2,550,000 after acquiring an additional 88,372 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Louisiana-Pacific by 14.9% in the third quarter. GSA Capital Partners LLP now owns 42,332 shares of the construction company’s stock worth $1,146,000 after acquiring an additional 5,487 shares in the last quarter. Finally, Algert Global LLC increased its holdings in shares of Louisiana-Pacific by 32.0% in the third quarter. Algert Global LLC now owns 128,700 shares of the construction company’s stock worth $3,485,000 after acquiring an additional 31,179 shares in the last quarter. Institutional investors own 93.08% of the company’s stock.
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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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