Louisiana-Pacific (NYSE:LPX) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Louisiana-Pacific (NYSE:LPX) from a buy rating to a hold rating in a report issued on Friday morning.

LPX has been the topic of several other reports. Royal Bank of Canada lifted their target price on Louisiana-Pacific from $101.00 to $112.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Bank of America lifted their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an underperform rating in a report on Thursday. DA Davidson lifted their target price on Louisiana-Pacific from $98.00 to $110.00 and gave the stock a buy rating in a report on Friday, June 14th. Truist Financial reiterated a buy rating and issued a $105.00 price target (up previously from $101.00) on shares of Louisiana-Pacific in a research report on Thursday, August 8th. Finally, BMO Capital Markets lowered Louisiana-Pacific from an outperform rating to a market perform rating and set a $99.00 price target for the company. in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $92.67.

Louisiana-Pacific Price Performance

NYSE:LPX opened at $97.92 on Friday. The company has a quick ratio of 1.95, a current ratio of 3.38 and a debt-to-equity ratio of 0.21. The business’s 50-day simple moving average is $92.74 and its two-hundred day simple moving average is $85.81. The stock has a market cap of $6.88 billion, a PE ratio of 26.90, a P/E/G ratio of 0.60 and a beta of 1.88. Louisiana-Pacific has a 52 week low of $49.47 and a 52 week high of $101.89.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The firm had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $797.26 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue was up 33.2% compared to the same quarter last year. As a group, analysts forecast that Louisiana-Pacific will post 5.05 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.06%. Louisiana-Pacific’s dividend payout ratio is 28.57%.

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 800 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction of $76,880.00. Following the transaction, the director now owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now owns 596,886 shares of the company’s stock, valued at $55,773,027.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ozey K. Horton, Jr. sold 800 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the transaction, the director now directly owns 29,008 shares in the company, valued at approximately $2,787,668.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,991 shares of company stock valued at $3,443,269. 1.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LPX. Charles Schwab Investment Management Inc. grew its stake in Louisiana-Pacific by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 484,289 shares of the building manufacturing company’s stock worth $34,302,000 after purchasing an additional 19,736 shares in the last quarter. Principal Securities Inc. bought a new position in Louisiana-Pacific in the fourth quarter worth approximately $75,000. BNP Paribas Financial Markets grew its stake in Louisiana-Pacific by 169.3% in the fourth quarter. BNP Paribas Financial Markets now owns 59,622 shares of the building manufacturing company’s stock worth $4,223,000 after purchasing an additional 37,481 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Louisiana-Pacific by 47.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,016 shares of the building manufacturing company’s stock worth $568,000 after purchasing an additional 2,577 shares in the last quarter. Finally, Norges Bank bought a new stake in Louisiana-Pacific during the 4th quarter valued at $53,186,000. Institutional investors own 94.73% of the company’s stock.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.