Barclays Issues Pessimistic Forecast for Louisiana-Pacific (NYSE:LPX) Stock Price

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

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

Louisiana-Pacific Trading Up 7.2%

Shares of NYSE:LPX traded up $5.05 during midday trading on Wednesday, reaching $74.94. The company had a trading volume of 598,112 shares, compared to its average volume of 1,060,256. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.53 and a current ratio of 2.78. Louisiana-Pacific has a 1-year low of $69.34 and a 1-year high of $102.86. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 0.88 and a beta of 1.78. The company has a fifty day simple moving average of $81.50 and a two-hundred day simple moving average of $84.05.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Tuesday, February 17th. The building manufacturing company reported $0.03 earnings per share 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 business had revenue of $567.00 million during the quarter, compared to analyst estimates of $589.96 million. During the same quarter last year, the company posted $1.03 EPS. Louisiana-Pacific’s revenue for the quarter was down 16.7% on a year-over-year basis. Research analysts predict that Louisiana-Pacific will post 5.27 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director F Nicholas Grasberger III bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was acquired at an average price of $85.49 per share, for a total transaction of $1,709,800.00. Following the transaction, the director directly owned 38,954 shares of the company’s stock, valued at $3,330,177.46. This represents a 105.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Bradley Southern sold 14,166 shares of Louisiana-Pacific stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $89.29, for a total value of $1,264,882.14. Following the completion of the transaction, the chief executive officer owned 461,719 shares of the company’s stock, valued at approximately $41,226,889.51. The trade was a 2.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 113,310 shares of company stock worth $10,235,781. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Louisiana-Pacific

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in shares of Louisiana-Pacific by 34.3% in the 3rd quarter. Versant Capital Management Inc now owns 497 shares of the building manufacturing company’s stock valued at $44,000 after buying an additional 127 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of Louisiana-Pacific by 4.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 3,139 shares of the building manufacturing company’s stock worth $279,000 after purchasing an additional 136 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in Louisiana-Pacific by 1.5% during the third quarter. Elo Mutual Pension Insurance Co now owns 11,524 shares of the building manufacturing company’s stock worth $1,024,000 after acquiring an additional 166 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in Louisiana-Pacific by 2.7% during the third quarter. WINTON GROUP Ltd now owns 6,877 shares of the building manufacturing company’s stock worth $611,000 after acquiring an additional 183 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Louisiana-Pacific by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the building manufacturing company’s stock worth $1,564,000 after acquiring an additional 200 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

About Louisiana-Pacific

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.