Louisiana-Pacific (NYSE:LPX) Price Target Raised to $93.00 at Barclays

Louisiana-Pacific (NYSE:LPX) had its target price raised by equities research analysts at Barclays from $89.00 to $93.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the building manufacturing company’s stock. Barclays‘s price objective suggests a potential upside of 28.89% from the company’s previous close.

LPX has been the topic of several other reports. DA Davidson reaffirmed a “buy” rating and issued a $114.00 target price on shares of Louisiana-Pacific in a report on Tuesday, May 5th. Jefferies Financial Group began coverage on Louisiana-Pacific in a research note on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target for the company. Zacks Research cut Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Truist Financial reaffirmed a “buy” rating and issued a $93.00 price objective (down from $95.00) on shares of Louisiana-Pacific in a research note on Friday, May 8th. Finally, TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.22.

Louisiana-Pacific Trading Down 1.4%

Louisiana-Pacific stock opened at $72.16 on Tuesday. Louisiana-Pacific has a 1 year low of $66.12 and a 1 year high of $102.86. The firm’s 50 day moving average price is $74.37 and its 200-day moving average price is $79.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The stock has a market cap of $5.04 billion, a P/E ratio of 61.15, a PEG ratio of 1.84 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. The firm had revenue of $574.00 million during the quarter, compared to analyst estimates of $569.99 million. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. Louisiana-Pacific’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share. On average, equities analysts predict that Louisiana-Pacific will post 2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Louisiana-Pacific

A number of institutional investors and hedge funds have recently modified their holdings of LPX. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Louisiana-Pacific in the second quarter valued at $26,000. Los Angeles Capital Management LLC purchased a new stake in Louisiana-Pacific in the 4th quarter worth about $29,000. Western Wealth Management LLC purchased a new stake in Louisiana-Pacific in the 1st quarter worth about $25,000. Parallel Advisors LLC lifted its stake in Louisiana-Pacific by 204.0% in the first 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 last quarter. 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 worth $32,000 after purchasing an additional 277 shares during the last quarter. Hedge funds and other 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.