Louisiana-Pacific (NYSE:LPX) Given New $88.00 Price Target at Barclays

Louisiana-Pacific (NYSE:LPX) had its price objective reduced by Barclays from $92.00 to $88.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the building manufacturing company’s stock.

A number of other research firms have also commented on LPX. Truist Financial reduced their target price on Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 6th. TD upped their price target on Louisiana-Pacific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Zacks Research cut Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Wolfe Research started coverage on Louisiana-Pacific in a report on Thursday, September 10th. They issued an “outperform” rating and a $90.00 price objective for the company. Finally, Weiss Ratings raised Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.33.

Louisiana-Pacific Trading Up 2.6%

NYSE:LPX opened at $66.97 on Tuesday. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 84.78, a PEG ratio of 9.24 and a beta of 1.63. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average price is $69.96 and its 200-day moving average price is $72.53. Louisiana-Pacific has a 52 week low of $62.18 and a 52 week high of $100.34.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The firm had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.Louisiana-Pacific’s revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, equities research analysts forecast that Louisiana-Pacific will post 1.17 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. Louisiana-Pacific’s payout ratio is currently 151.90%.

Hedge Funds Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently modified their holdings of the company. Moody National Bank Trust Division grew its holdings in shares of Louisiana-Pacific by 14.9% in the third quarter. Moody National Bank Trust Division now owns 22,981 shares of the building manufacturing company’s stock worth $1,483,000 after acquiring an additional 2,975 shares during the period. WINTON GROUP Ltd lifted its holdings in Louisiana-Pacific by 42.8% in the second quarter. WINTON GROUP Ltd now owns 9,443 shares of the building manufacturing company’s stock valued at $743,000 after acquiring an additional 2,831 shares during the period. Integrated Wealth Concepts LLC bought a new position in Louisiana-Pacific in the second quarter valued at about $72,000. NewEdge Advisors LLC lifted its holdings in Louisiana-Pacific by 2.3% in the second quarter. NewEdge Advisors LLC now owns 8,875 shares of the building manufacturing company’s stock valued at $698,000 after acquiring an additional 200 shares during the period. Finally, Squarepoint Ops LLC boosted its position in Louisiana-Pacific by 476.3% in the second quarter. Squarepoint Ops LLC now owns 26,238 shares of the building manufacturing company’s stock worth $2,064,000 after purchasing an additional 21,685 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential and light commercial construction. The company’s portfolio includes engineered wood siding and trim, oriented strand board (OSB), and other engineered wood products designed for wall, roof, and structural applications.

Louisiana-Pacific is best known for its LP SmartSide siding and trim products, which are made from engineered wood and marketed as alternatives to traditional wood siding.