Louisiana-Pacific Corp. (LPX) Upgraded to “Buy” at Vertical Research
Louisiana-Pacific Corp. (NYSE:LPX) was upgraded by investment analysts at Vertical Research from a “hold” rating to a “buy” rating in a report released on Friday.
Several other analysts have also recently issued reports on LPX. TheStreet cut Louisiana-Pacific Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, September 29th. BMO Capital Markets cut Louisiana-Pacific Corp. from an “outperform” rating to a “market perform” rating and set a $20.00 price objective on the stock. in a research note on Monday, August 8th. They noted that the move was a valuation call. Finally, Dundee Securities upgraded Louisiana-Pacific Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday, July 21st. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.25.
Shares of Louisiana-Pacific Corp. (NYSE:LPX) opened at 18.47 on Friday. The stock has a market capitalization of $2.63 billion, a P/E ratio of 335.82 and a beta of 1.36. The company has a 50 day moving average price of $19.17 and a 200-day moving average price of $18.45. Louisiana-Pacific Corp. has a 1-year low of $13.31 and a 1-year high of $20.97.
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Louisiana-Pacific Corp. (NYSE:LPX) last released its quarterly 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 return on equity of 3.29% and a net margin of 0.39%. The business had revenue of $582 million for the quarter, compared to analysts’ expectations of $578.30 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. 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 that occurred on Monday, August 8th. The stock was sold at an average price of $20.00, for a total transaction of $267,940.00. Following the sale, the senior vice president now directly owns 45,025 shares in the company, valued at approximately $900,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.76% of the company’s stock.
Institutional investors have recently modified their holdings of the company. 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 worth $102,000 after buying an additional 433 shares during the period. Pacad Investment Ltd. acquired a new position in shares of Louisiana-Pacific Corp. during the second quarter worth about $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 worth $118,000 after buying an additional 2,522 shares during the period. 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 worth $150,000 after buying an additional 3,724 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Louisiana-Pacific Corp. during the second quarter worth about $182,000.
Louisiana-Pacific Corp. Company Profile
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.
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