Louisiana-Pacific (NYSE:LPX) Stock Gets Price Target Reduction from The Goldman Sachs Group

Louisiana-Pacific (NYSE:LPX) had its price objective trimmed by The Goldman Sachs Group from $74.00 to $64.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a sell rating on the building manufacturing company’s stock.

Several other brokerages also recently commented on LPX. Weiss Ratings raised shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Jefferies Financial Group began coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target for the company. Wolfe Research began coverage on shares of Louisiana-Pacific in a research report on Thursday, September 10th. They set an “outperform” rating and a $90.00 price target for the company. DA Davidson reissued a “buy” rating and issued a $99.00 price target on shares of Louisiana-Pacific in a report on Wednesday, September 2nd. Finally, Bank of America raised their price target on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.17.

Louisiana-Pacific Trading Down 0.2%

NYSE LPX opened at $66.65 on Monday. The stock has a 50-day moving average of $68.93 and a 200-day moving average of $72.24. 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. The firm has a market cap of $4.66 billion, a PE ratio of 84.37, a price-to-earnings-growth ratio of 10.04 and a beta of 1.63.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The company had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%. Louisiana-Pacific’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. As a group, sell-side analysts forecast that Louisiana-Pacific will post 1.10 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. Louisiana-Pacific’s payout ratio is 151.90%.

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds and other institutional investors have recently made changes to their positions in LPX. Western Wealth Management LLC purchased a new position in Louisiana-Pacific during the 1st quarter valued at $25,000. Parallel Advisors LLC lifted its position in shares of Louisiana-Pacific by 204.0% in the 1st 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 period. Root Financial Partners LLC lifted its position in shares of Louisiana-Pacific by 177.6% in the 1st 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 period. Whittier Trust Co. lifted its position in shares of Louisiana-Pacific by 138.1% in the 1st quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company’s stock worth $36,000 after purchasing an additional 290 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of Louisiana-Pacific by 1,505.4% during the 1st quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company’s stock valued at $43,000 after purchasing an additional 557 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential and light commercial construction. The company’s portfolio includes engineered wood siding and trim, oriented strand board (OSB), and other engineered wood products designed for wall, roof, and structural applications.

Louisiana-Pacific is best known for its LP SmartSide siding and trim products, which are made from engineered wood and marketed as alternatives to traditional wood siding.