Louisiana-Pacific (NYSE:LPX) Shares Gap Down to $23.91

Louisiana-Pacific Co. (NYSE:LPX)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $24.80, but opened at $23.91. Louisiana-Pacific shares last traded at $23.52, with a volume of 2,424,648 shares.

A number of equities analysts have commented on the company. BMO Capital Markets upgraded Louisiana-Pacific from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $26.00 to $28.00 in a research note on Friday, June 14th. Zacks Investment Research upgraded Louisiana-Pacific from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research note on Friday, August 2nd. Royal Bank of Canada restated a “buy” rating and set a $30.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, August 8th. Longbow Research lowered Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, ValuEngine raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.84.

The stock has a fifty day simple moving average of $23.89 and a two-hundred day simple moving average of $24.55. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 8.78 and a beta of 1.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.34 and a current ratio of 3.62.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Tuesday, August 6th. The building manufacturing company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.14). The business had revenue of $588.00 million during the quarter, compared to analyst estimates of $641.63 million. Louisiana-Pacific had a net margin of 7.41% and a return on equity of 11.70%. The company’s revenue for the quarter was down 27.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 EPS. Equities analysts expect that Louisiana-Pacific Co. will post 0.77 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC lifted its holdings in Louisiana-Pacific by 6.2% during the 1st quarter. Cerebellum GP LLC now owns 12,704 shares of the building manufacturing company’s stock worth $310,000 after buying an additional 743 shares during the period. Coastal Capital Group Inc. acquired a new position in Louisiana-Pacific during the 2nd quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Louisiana-Pacific during the 2nd quarter worth about $262,000. Bank of Montreal Can raised its position in shares of Louisiana-Pacific by 108.2% in the 2nd quarter. Bank of Montreal Can now owns 657,086 shares of the building manufacturing company’s stock worth $17,228,000 after acquiring an additional 341,453 shares in the last quarter. Finally, Granite Investment Partners LLC raised its position in shares of Louisiana-Pacific by 23.6% in the 1st quarter. Granite Investment Partners LLC now owns 43,154 shares of the building manufacturing company’s stock worth $1,052,000 after acquiring an additional 8,234 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

About Louisiana-Pacific (NYSE:LPX)

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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