Louisiana-Pacific (NYSE:LPX) Price Target Raised to $108.00

Louisiana-Pacific (NYSE:LPX) had its price target raised by equities research analysts at Barclays from $100.00 to $108.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the building manufacturing company’s stock. Barclays‘s price target would indicate a potential upside of 15.70% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on LPX. Zacks Research cut shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Royal Bank Of Canada decreased their target price on shares of Louisiana-Pacific from $114.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Truist Financial raised their target price on shares of Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. DA Davidson reissued a “buy” rating and set a $117.00 price target on shares of Louisiana-Pacific in a research report on Thursday, November 20th. Finally, TD Securities dropped their price objective on Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Louisiana-Pacific has a consensus rating of “Moderate Buy” and a consensus target price of $106.57.

Louisiana-Pacific Stock Performance

Shares of NYSE:LPX traded up $1.36 on Thursday, hitting $93.35. The company had a trading volume of 290,301 shares, compared to its average volume of 1,273,960. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 30.21 and a beta of 1.80. The stock has a 50 day moving average price of $82.08 and a 200 day moving average price of $88.22. Louisiana-Pacific has a 1-year low of $73.42 and a 1-year high of $119.91. The company has a current ratio of 2.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $670.26 million. Louisiana-Pacific had a net margin of 7.69% and a return on equity of 14.90%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 earnings per share. Analysts expect that Louisiana-Pacific will post 5.27 EPS for the current year.

Insider Buying and Selling

In other Louisiana-Pacific news, CEO William Bradley Southern sold 42,514 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $86.25, for a total value of $3,666,832.50. Following the sale, the chief executive officer owned 559,908 shares in the company, valued at $48,292,065. This trade represents a 7.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen E. Macadam bought 3,200 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $78.06 per share, for a total transaction of $249,792.00. Following the purchase, the director owned 41,149 shares of the company’s stock, valued at approximately $3,212,090.94. The trade was a 8.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Several large investors have recently bought and sold shares of LPX. Millennium Management LLC increased its stake in shares of Louisiana-Pacific by 128.6% in the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock valued at $16,259,000 after buying an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Louisiana-Pacific in the 1st quarter valued at approximately $273,000. Goldman Sachs Group Inc. raised its stake in shares of Louisiana-Pacific by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock valued at $25,274,000 after acquiring an additional 18,413 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Louisiana-Pacific by 207.1% during the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after purchasing an additional 19,029 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Louisiana-Pacific by 15.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock worth $20,747,000 after purchasing an additional 29,846 shares during the period. 94.73% of the stock is currently owned by institutional investors.

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.