Louisiana-Pacific (NYSE:LPX) Upgraded at Zacks Research

Zacks Research upgraded shares of Louisiana-Pacific (NYSE:LPX) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks reports.

Several other brokerages have also recently weighed in on LPX. Barclays decreased their price objective 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. The Goldman Sachs Group lifted their target price on shares of Louisiana-Pacific from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Thursday, August 6th. Wolfe Research assumed coverage on Louisiana-Pacific in a report on Thursday, September 10th. They issued an “outperform” rating and a $90.00 target price on the stock. DA Davidson restated a “buy” rating and set a $99.00 price target on shares of Louisiana-Pacific in a research report on Wednesday, September 2nd. Finally, Weiss Ratings raised Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.33.

Louisiana-Pacific Stock Down 3.1%

LPX opened at $64.80 on Monday. The firm’s 50-day simple moving average is $69.78 and its 200-day simple moving average is $72.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 3.22. 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 $4.53 billion, a price-to-earnings ratio of 82.02, a PEG ratio of 9.47 and a beta of 1.63.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The firm had revenue of $664.00 million for the quarter, compared to analyst estimates of $667.31 million. During the same quarter last year, the business earned $0.99 EPS. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. Equities research analysts anticipate that Louisiana-Pacific will post 1.17 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, August 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 151.90%.

Hedge Funds Weigh In On Louisiana-Pacific

A number of institutional investors have recently modified their holdings of LPX. Western Wealth Management LLC acquired a new position in shares of Louisiana-Pacific during the first quarter worth approximately $25,000. Parallel Advisors LLC increased its holdings in shares of 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 in the last quarter. Root Financial Partners LLC increased its holdings in shares of 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 in the last quarter. Whittier Trust Co. increased its holdings in shares of 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 purchasing an additional 290 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Louisiana-Pacific by 1,505.4% in the 1st quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company’s stock worth $43,000 after purchasing an additional 557 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

About Louisiana-Pacific

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.