Louisiana-Pacific (NYSE:LPX) Stock Price Target Lowered at Bank of America

Louisiana-Pacific (NYSE:LPX) had its price objective reduced by investment analysts at Bank of America from $100.00 to $85.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the building manufacturing company’s stock. Bank of America‘s target price suggests a potential upside of 27.05% from the company’s previous close.

Several other research firms have also recently weighed in on LPX. Wolfe Research began coverage on shares of Louisiana-Pacific in a research report on Thursday, September 10th. They issued an “outperform” rating and a $90.00 price objective for the company. TD upped their target price on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Barclays decreased their price target on shares of Louisiana-Pacific from $92.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Jefferies Financial Group began coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price target for the company. Finally, Truist Financial lowered their price target on shares of Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Louisiana-Pacific presently has an average rating of “Moderate Buy” and a consensus price target of $91.17.

Louisiana-Pacific Stock Performance

Shares of NYSE:LPX opened at $66.90 on Wednesday. Louisiana-Pacific has a twelve month low of $62.18 and a twelve month high of $100.34. The firm has a market cap of $4.68 billion, a PE ratio of 56.35, a price-to-earnings-growth ratio of 10.05 and a beta of 1.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 3.22. The business has a fifty day moving average of $69.14 and a 200-day moving average of $72.28.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.16). Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%. The company had revenue of $664.00 million for the quarter, compared to analyst estimates of $667.31 million. During the same quarter last year, the company earned $0.99 EPS. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. On average, equities research analysts predict that Louisiana-Pacific will post 1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Louisiana-Pacific

Several hedge funds have recently added to or reduced their stakes in LPX. Western Wealth Management LLC bought a new position in shares of Louisiana-Pacific in the 1st quarter worth $25,000. Parallel Advisors LLC increased its holdings in 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 purchasing an additional 255 shares during the last quarter. Root Financial Partners LLC increased its holdings in 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 purchasing an additional 277 shares during the last quarter. Whittier Trust Co. lifted its stake in 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 during the period. Finally, Meeder Asset Management Inc. lifted its stake in Louisiana-Pacific by 1,505.4% in the first quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company’s stock valued at $43,000 after buying an additional 557 shares during the period. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Company Profile

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.