Louisiana-Pacific Corp. (LPX) Upgraded to Buy at Vertical Group
Louisiana-Pacific Corp. (NYSE:LPX) was upgraded by analysts at Vertical Group to a “buy” rating in a report issued on Friday.
Other research analysts have also recently issued research reports about the stock. Dundee Securities upgraded shares of Louisiana-Pacific Corp. from a “neutral” rating to a “buy” rating in a report on Thursday, July 21st. TheStreet raised shares of Louisiana-Pacific Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Vertical Research raised shares of Louisiana-Pacific Corp. from a “hold” rating to a “buy” rating in a research report on Friday. Finally, BMO Capital Markets lowered shares of Louisiana-Pacific Corp. from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research report on Monday, August 8th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.25.
Louisiana-Pacific Corp. (NYSE:LPX) traded up 3.41% on Friday, hitting $19.10. 420,927 shares of the company were exchanged. Louisiana-Pacific Corp. has a one year low of $13.31 and a one year high of $20.97. The stock has a 50 day moving average price of $19.17 and a 200 day moving average price of $18.45. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 347.27 and a beta of 1.36.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/14/louisiana-pacific-corp-lpx-upgraded-to-buy-at-vertical-group.html
Louisiana-Pacific Corp. (NYSE:LPX) last announced its earnings results on Thursday, August 4th. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Louisiana-Pacific Corp. had a net margin of 0.39% and a return on equity of 3.29%. The business earned $582 million during the quarter, compared to analysts’ expectations of $578.30 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. On average, equities research analysts forecast that Louisiana-Pacific Corp. will post $0.87 EPS for the current fiscal year.
In other news, SVP Neil Sherman sold 13,397 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $20.00, for a total value of $267,940.00. Following the transaction, the senior vice president now directly owns 45,025 shares of the company’s stock, valued at $900,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.76% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in shares of Louisiana-Pacific Corp. by 8.0% in the second quarter. Public Employees Retirement System of Ohio now owns 5,878 shares of the company’s stock valued at $102,000 after buying an additional 433 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Louisiana-Pacific Corp. during the second quarter valued at $116,000. Creative Planning raised its position in shares of Louisiana-Pacific Corp. by 58.8% in the second quarter. Creative Planning now owns 6,814 shares of the company’s stock valued at $118,000 after buying an additional 2,522 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Louisiana-Pacific Corp. by 75.6% in the second quarter. LS Investment Advisors LLC now owns 8,648 shares of the company’s stock valued at $150,000 after buying an additional 3,724 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Louisiana-Pacific Corp. during the second quarter valued at $182,000.
About Louisiana-Pacific Corp.
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
Receive News & Ratings for Louisiana-Pacific Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific Corp. and related companies with MarketBeat.com's FREE daily email newsletter.