DA Davidson Reiterates Buy Rating for Louisiana-Pacific (NYSE:LPX)

Louisiana-Pacific (NYSE:LPX)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $99.00 price target on the building manufacturing company’s stock. DA Davidson’s price objective indicates a potential upside of 42.93% from the stock’s previous close.

LPX has been the subject of a number of other research reports. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Oppenheimer cut their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Truist Financial decreased their target price on shares of Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Barclays lowered their target price on shares of Louisiana-Pacific from $93.00 to $92.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Finally, Jefferies Financial Group assumed coverage on shares of Louisiana-Pacific in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price target for the company. Eleven analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Louisiana-Pacific Stock Up 0.7%

NYSE:LPX traded up $0.46 on Wednesday, hitting $69.27. 251,598 shares of the company’s stock were exchanged, compared to its average volume of 1,139,895. The firm has a 50-day moving average price of $74.60 and a 200-day moving average price of $75.32. Louisiana-Pacific has a 52 week low of $66.12 and a 52 week high of $101.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. The company has a market cap of $4.84 billion, a P/E ratio of 87.67, a price-to-earnings-growth ratio of 9.98 and a beta of 1.59.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.16). Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The company had revenue of $664.00 million for the quarter, compared to analyst estimates of $667.31 million. During the same period last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, analysts expect that Louisiana-Pacific will post 1.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC acquired a new stake in shares of Louisiana-Pacific in the 1st quarter valued at about $25,000. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Louisiana-Pacific during the 2nd quarter worth approximately $26,000. Parallel Advisors LLC raised its holdings in shares of Louisiana-Pacific by 204.0% in the 1st quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock worth $28,000 after purchasing an additional 255 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Louisiana-Pacific in the 4th quarter worth approximately $29,000. Finally, Root Financial Partners LLC lifted its stake in Louisiana-Pacific by 177.6% in the first quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock valued at $32,000 after purchasing an additional 277 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

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.