Louisiana-Pacific Co. (NYSE:LPX) Short Interest Update
Louisiana-Pacific Co. (NYSE:LPX) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 6,128,300 shares, an increase of 16.2% from the June 30th total of 5,271,900 shares. Based on an average trading volume of 2,080,000 shares, the short-interest ratio is currently 2.9 days. Currently, 4.6% of the shares of the company are sold short.
Shares of LPX stock traded down $0.27 during trading on Wednesday, hitting $22.59. The company’s stock had a trading volume of 1,828,000 shares, compared to its average volume of 2,053,342. The company has a market cap of $2.82 billion, a P/E ratio of 8.24 and a beta of 1.41. The company has a current ratio of 3.62, a quick ratio of 2.34 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average is $25.49. Louisiana-Pacific has a 52 week low of $20.39 and a 52 week high of $32.16.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, August 6th. The building manufacturing company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.14). Louisiana-Pacific had a net margin of 7.41% and a return on equity of 11.70%. The firm had revenue of $588.00 million for the quarter, compared to the consensus estimate of $641.63 million. During the same period last year, the company posted $1.11 earnings per share. Louisiana-Pacific’s revenue for the quarter was down 27.5% on a year-over-year basis. On average, sell-side analysts expect that Louisiana-Pacific will post 0.83 EPS for the current fiscal year.
Several research firms have recently issued reports on LPX. Royal Bank of Canada reaffirmed a “buy” rating and issued a $30.00 target price on shares of Louisiana-Pacific in a report on Thursday, August 8th. Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 target price for the company in a report on Tuesday, April 30th. TD Securities reduced their target price on Louisiana-Pacific from $27.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Longbow Research raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a report on Monday, May 20th. Finally, BMO Capital Markets raised Louisiana-Pacific from a “market perform” rating to an “outperform” rating and upped their target price for the company from $26.00 to $28.00 in a report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Louisiana-Pacific presently has a consensus rating of “Buy” and a consensus target price of $28.84.
A number of hedge funds and other institutional investors have recently made changes to their positions in LPX. Dimensional Fund Advisors LP grew its stake in Louisiana-Pacific by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,008,078 shares of the building manufacturing company’s stock valued at $111,278,000 after acquiring an additional 390,428 shares in the last quarter. Jane Street Group LLC grew its stake in Louisiana-Pacific by 41.3% during the 4th quarter. Jane Street Group LLC now owns 10,796 shares of the building manufacturing company’s stock valued at $240,000 after acquiring an additional 3,158 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in Louisiana-Pacific during the 1st quarter valued at about $45,000. Virtu Financial LLC purchased a new position in Louisiana-Pacific during the 1st quarter valued at about $215,000. Finally, Sciencast Management LP purchased a new position in Louisiana-Pacific during the 1st quarter valued at about $391,000. 99.77% of the stock is owned by institutional investors and hedge funds.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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