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

Louisiana-Pacific (NYSE:LPX) had its price objective reduced by equities researchers at Barclays from $104.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the building manufacturing company’s stock. Barclays‘s price target would indicate a potential upside of 20.10% from the stock’s previous close.

LPX has been the topic of several other research reports. Truist Financial upped their target price on Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Oppenheimer reaffirmed an “outperform” rating on shares of Louisiana-Pacific in a research report on Tuesday, March 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 target price on shares of Louisiana-Pacific in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Louisiana-Pacific in a research report on Friday, March 27th. Finally, DA Davidson reduced their price target on Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Louisiana-Pacific has an average rating of “Moderate Buy” and an average target price of $102.83.

Louisiana-Pacific Stock Up 7.2%

Shares of Louisiana-Pacific stock traded up $5.05 during trading on Wednesday, reaching $74.94. The stock had a trading volume of 598,112 shares, compared to its average volume of 1,060,256. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 0.88 and a beta of 1.78. The stock has a fifty day moving average price of $81.50 and a two-hundred day moving average price of $84.05. Louisiana-Pacific has a 52 week low of $69.34 and a 52 week high of $102.86. The company has a current ratio of 2.78, a quick ratio of 1.53 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Tuesday, February 17th. The building manufacturing company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. Louisiana-Pacific had a return on equity of 10.72% and a net margin of 5.39%.The company had revenue of $567.00 million for the quarter, compared to analyst estimates of $589.96 million. During the same period in the previous year, the company posted $1.03 earnings per share. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. Sell-side analysts predict that Louisiana-Pacific will post 5.27 EPS for the current fiscal year.

Insider Activity

In other news, CEO William Bradley Southern sold 55,346 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $91.66, for a total value of $5,073,014.36. Following the completion of the transaction, the chief executive officer directly owned 503,381 shares in the company, valued at approximately $46,139,902.46. This represents a 9.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F Nicholas Grasberger III purchased 20,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was purchased at an average price of $85.49 per share, with a total value of $1,709,800.00. Following the completion of the purchase, the director directly owned 38,954 shares in the company, valued at $3,330,177.46. The trade was a 105.52% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 113,310 shares of company stock worth $10,235,781. Insiders own 0.65% of the company’s stock.

Institutional Trading of Louisiana-Pacific

A number of institutional investors and hedge funds have recently bought and sold shares of LPX. Eminence Capital LP increased its holdings in Louisiana-Pacific by 72.3% in the second quarter. Eminence Capital LP now owns 2,887,438 shares of the building manufacturing company’s stock valued at $248,291,000 after purchasing an additional 1,211,495 shares during the period. Boston Partners acquired a new stake in Louisiana-Pacific during the 3rd quarter worth about $100,770,000. Capital Research Global Investors grew its holdings in Louisiana-Pacific by 306.2% during the 4th quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company’s stock worth $102,848,000 after acquiring an additional 960,000 shares during the period. Norges Bank acquired a new stake in Louisiana-Pacific during the 4th quarter worth about $60,184,000. Finally, 59 North Capital Management LP grew its holdings in Louisiana-Pacific by 26.3% during 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 acquiring an additional 737,406 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.