Zacks Investment Research downgraded shares of Louisiana-Pacific Corporation (NYSE:LPX) from a strong-buy rating to a hold rating in a research note published on Friday.
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 subject of several other research reports. BidaskClub raised Louisiana-Pacific Corporation from a hold rating to a buy rating in a research note on Thursday, July 13th. Royal Bank Of Canada reissued a buy rating and set a $26.00 target price on shares of Louisiana-Pacific Corporation in a research note on Tuesday, April 18th. DA Davidson cut Louisiana-Pacific Corporation from a buy rating to a neutral rating in a research note on Monday, May 8th. TD Securities reissued a hold rating on shares of Louisiana-Pacific Corporation in a research note on Tuesday, May 9th. Finally, Buckingham Research cut Louisiana-Pacific Corporation from a buy rating to a neutral rating and set a $27.00 target price for the company. in a research note on Wednesday, April 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $26.60.
Louisiana-Pacific Corporation (NYSE:LPX) traded up 1.40% during trading on Friday, reaching $25.43. The company had a trading volume of 1,170,707 shares. Louisiana-Pacific Corporation has a 52 week low of $17.08 and a 52 week high of $26.92. The company’s 50-day moving average is $24.22 and its 200 day moving average is $23.40. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 19.02 and a beta of 1.33.
Louisiana-Pacific Corporation (NYSE:LPX) last posted its earnings results on Friday, May 5th. The construction company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $611 million during the quarter, compared to analysts’ expectations of $607.21 million. Louisiana-Pacific Corporation had a return on equity of 14.34% and a net margin of 8.31%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. Equities analysts anticipate that Louisiana-Pacific Corporation will post $1.69 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Louisiana-Pacific Corporation by 6.9% in the second quarter. US Bancorp DE now owns 6,169 shares of the construction company’s stock valued at $149,000 after buying an additional 400 shares in the last quarter. Creative Planning raised its position in Louisiana-Pacific Corporation by 1.9% in the second quarter. Creative Planning now owns 7,773 shares of the construction company’s stock valued at $187,000 after buying an additional 147 shares in the last quarter. Acrospire Investment Management LLC raised its position in Louisiana-Pacific Corporation by 0.8% in the first quarter. Acrospire Investment Management LLC now owns 7,741 shares of the construction company’s stock valued at $192,000 after buying an additional 60 shares in the last quarter. Breton Hill Capital Ltd. purchased a new position in Louisiana-Pacific Corporation during the first quarter valued at approximately $221,000. Finally, World Asset Management Inc purchased a new position in Louisiana-Pacific Corporation during the first quarter valued at approximately $222,000. Institutional investors and hedge funds own 93.38% 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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