TD Issues Positive Forecast for Louisiana-Pacific (NYSE:LPX) Stock Price

Louisiana-Pacific (NYSE:LPX) had its target price upped by stock analysts at TD from $86.00 to $90.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the building manufacturing company’s stock. TD’s price objective would suggest a potential upside of 20.37% from the company’s previous close.

A number of other analysts have also recently commented on LPX. Truist Financial restated a “buy” rating and issued a $93.00 price objective (down from $95.00) on shares of Louisiana-Pacific in a research report on Friday, May 8th. Weiss Ratings upgraded Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Bank of America upped their price objective on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group initiated coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Louisiana-Pacific Stock Performance

LPX stock traded up $2.57 during midday trading on Tuesday, hitting $74.77. 1,031,954 shares of the stock traded hands, compared to its average volume of 1,134,558. Louisiana-Pacific has a 1-year low of $66.12 and a 1-year high of $102.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The stock’s fifty day simple moving average is $74.37 and its 200-day simple moving average is $79.15. The firm has a market cap of $5.22 billion, a P/E ratio of 63.23, a PEG ratio of 1.84 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. The business had revenue of $574.00 million during the quarter, compared to the consensus estimate of $569.99 million. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The company’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 earnings per share. On average, analysts expect that Louisiana-Pacific will post 2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LPX. Versant Capital Management Inc lifted its holdings in Louisiana-Pacific by 27.3% in the 2nd quarter. Versant Capital Management Inc now owns 630 shares of the building manufacturing company’s stock valued at $50,000 after purchasing an additional 135 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Louisiana-Pacific by 26.0% in the first quarter. EverSource Wealth Advisors LLC now owns 692 shares of the building manufacturing company’s stock worth $50,000 after buying an additional 143 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Louisiana-Pacific by 1.6% in the second quarter. Valeo Financial Advisors LLC now owns 9,225 shares of the building manufacturing company’s stock worth $726,000 after buying an additional 147 shares in the last quarter. WINTON GROUP Ltd boosted its position in Louisiana-Pacific by 2.7% during the third quarter. WINTON GROUP Ltd now owns 6,877 shares of the building manufacturing company’s stock worth $611,000 after acquiring an additional 183 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in Louisiana-Pacific by 1.2% during the second quarter. Tidal Investments LLC now owns 21,339 shares of the building manufacturing company’s stock worth $1,835,000 after acquiring an additional 247 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.