BMO Capital Markets Cuts Louisiana-Pacific (NYSE:LPX) Price Target to $94.00

Louisiana-Pacific (NYSE:LPX) had its target price cut by analysts at BMO Capital Markets from $98.00 to $94.00 in a report released on Monday,Benzinga reports. The firm currently has a “market perform” rating on the building manufacturing company’s stock. BMO Capital Markets’ target price points to a potential upside of 24.87% from the company’s current price.

Several other equities research analysts have also recently weighed in on LPX. Barclays dropped their target price on Louisiana-Pacific from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Zacks Research cut Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Oppenheimer restated an “outperform” rating on shares of Louisiana-Pacific in a report on Tuesday, March 3rd. Truist Financial increased their target price on Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, DA Davidson dropped their target price on Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific has a consensus rating of “Moderate Buy” and an average target price of $101.57.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock traded down $1.69 during trading on Monday, hitting $75.28. 175,164 shares of the stock traded hands, compared to its average volume of 1,028,802. The company has a quick ratio of 1.53, a current ratio of 2.78 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 1.18 and a beta of 1.78. The firm’s fifty day moving average is $79.15 and its 200-day moving average is $83.42. Louisiana-Pacific has a 52 week low of $69.34 and a 52 week high of $102.86.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, February 17th. The building manufacturing company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $567.00 million for the quarter, compared to analyst estimates of $589.96 million. Louisiana-Pacific had a return on equity of 10.72% and a net margin of 5.39%.The company’s revenue was down 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Research analysts expect that Louisiana-Pacific will post 5.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Louisiana-Pacific news, Director F Nicholas Grasberger III acquired 20,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was acquired at an average price of $85.49 per share, for a total transaction of $1,709,800.00. Following the acquisition, the director owned 38,954 shares in the company, valued at $3,330,177.46. This represents a 105.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lizanne M. Bruce sold 1,300 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $78.59, for a total value of $102,167.00. Following the completion of the sale, the director owned 17,160 shares of the company’s stock, valued at approximately $1,348,604.40. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 43,798 shares of company stock worth $3,844,196. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Louisiana-Pacific

Several institutional investors and hedge funds have recently bought and sold shares of LPX. Boston Partners purchased a new stake in Louisiana-Pacific in the 3rd quarter worth approximately $100,770,000. Capital Research Global Investors lifted its holdings in Louisiana-Pacific by 306.2% in the 4th quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company’s stock worth $102,848,000 after buying an additional 960,000 shares during the period. Eminence Capital LP lifted its holdings in Louisiana-Pacific by 29.9% in the 4th quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock worth $326,927,000 after buying an additional 932,177 shares during the period. Norges Bank purchased a new stake in Louisiana-Pacific in the 4th quarter worth approximately $60,184,000. Finally, 59 North Capital Management LP lifted its holdings in Louisiana-Pacific by 26.3% in the 4th quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company’s stock worth $285,639,000 after buying an additional 737,406 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.