BMO Capital Markets Increases Louisiana-Pacific (NYSE:LPX) Price Target to $99.00

Louisiana-Pacific (NYSE:LPX) had its target price lifted by investment analysts at BMO Capital Markets from $83.00 to $99.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the building manufacturing company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 14.86% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. TD Securities increased their price target on Louisiana-Pacific from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. TheStreet lowered shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. DA Davidson restated a “buy” rating and issued a $76.00 price target on shares of Louisiana-Pacific in a research note on Tuesday, February 13th. Loop Capital assumed coverage on Louisiana-Pacific in a report on Friday, May 3rd. They issued a “hold” rating and a $82.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price on Louisiana-Pacific from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.44.

Louisiana-Pacific Trading Down 2.2 %

Shares of LPX traded down $1.95 during midday trading on Thursday, hitting $86.19. The stock had a trading volume of 716,226 shares, compared to its average volume of 910,712. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.00 and a quick ratio of 1.54. Louisiana-Pacific has a 1 year low of $49.47 and a 1 year high of $88.40. The firm has a market cap of $6.23 billion, a PE ratio of 35.30 and a beta of 1.87. The stock’s 50 day moving average is $77.41 and its 200 day moving average is $69.26.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, May 8th. The building manufacturing company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.40. The business had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $686.84 million. Louisiana-Pacific had a return on equity of 15.65% and a net margin of 6.90%. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. As a group, analysts forecast that Louisiana-Pacific will post 4.89 EPS for the current fiscal year.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $77.58, for a total value of $193,950.00. Following the completion of the sale, the director now owns 25,995 shares in the company, valued at approximately $2,016,692.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.53% of the company’s stock.

Institutional Investors Weigh In On Louisiana-Pacific

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Louisiana-Pacific by 16.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 46,648 shares of the building manufacturing company’s stock valued at $3,914,000 after purchasing an additional 6,533 shares during the last quarter. Entropy Technologies LP purchased a new position in Louisiana-Pacific during the first quarter worth about $334,000. Barings LLC acquired a new stake in shares of Louisiana-Pacific during the first quarter valued at about $2,009,000. Russell Investments Group Ltd. raised its stake in shares of Louisiana-Pacific by 3.5% in the 1st quarter. Russell Investments Group Ltd. now owns 215,051 shares of the building manufacturing company’s stock valued at $18,045,000 after acquiring an additional 7,367 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Louisiana-Pacific in the 1st quarter worth approximately $301,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.