Louisiana-Pacific (NYSE:LPX) Price Target Raised to $85.00

Louisiana-Pacific (NYSE:LPX) had its price objective raised by Royal Bank Of Canada from $84.00 to $85.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the building manufacturing company’s stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial restated a “buy” rating and issued a $84.00 price target (down from $89.00) on shares of Louisiana-Pacific in a research report on Wednesday. Zacks Research raised Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Wolfe Research initiated coverage on Louisiana-Pacific in a research note on Thursday, September 10th. They issued an “outperform” rating and a $90.00 target price on the stock. TD boosted their target price on Louisiana-Pacific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Barclays cut their price target on Louisiana-Pacific from $92.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

Louisiana-Pacific Stock Performance

LPX stock traded down $1.44 on Wednesday, hitting $75.53. The company’s stock had a trading volume of 1,228,196 shares, compared to its average volume of 1,264,805. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 77.07, a price-to-earnings-growth ratio of 5.88 and a beta of 1.67. The firm has a 50 day moving average of $68.88 and a two-hundred day moving average of $75.01. The company has a current ratio of 3.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a 1 year low of $62.18 and a 1 year high of $100.34.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, November 3rd. The building manufacturing company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.18. Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The company had revenue of $691.00 million for the quarter, compared to analyst estimates of $671.27 million. During the same period in the previous year, the business posted $0.36 earnings per share. Louisiana-Pacific’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Louisiana-Pacific will post 1.15 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 20th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 20th. Louisiana-Pacific’s payout ratio is currently 122.45%.

Hedge Funds Weigh In On Louisiana-Pacific

Large investors have recently modified their holdings of the business. Western Wealth Management LLC purchased a new position in shares of Louisiana-Pacific during the 1st quarter worth approximately $25,000. Parallel Advisors LLC boosted its stake in shares of Louisiana-Pacific by 204.0% in the first quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock valued at $28,000 after buying an additional 255 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of 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 buying an additional 277 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Louisiana-Pacific by 138.1% in the first quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company’s stock valued at $36,000 after buying an additional 290 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Louisiana-Pacific by 1,505.4% during the first quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company’s stock worth $43,000 after acquiring an additional 557 shares during the period. 94.73% of the stock is 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, repair and remodeling, and outdoor construction. The company produces engineered wood products designed for use in structural framing, exterior siding, trim, and other building applications.

Its product portfolio includes LP SmartSide siding and trim, oriented strand board and other structural panel products, and solutions for outdoor buildings and construction projects. Louisiana-Pacific markets its products through building-material distributors, retailers, and specialty dealers.

Founded in 1972, Louisiana-Pacific is headquartered in Nashville, Tennessee.