Louisiana-Pacific Corporation’s (LPX) Buy Rating Reiterated at Royal Bank Of Canada
Louisiana-Pacific Corporation (NYSE:LPX)‘s stock had its “buy” rating reissued by Royal Bank Of Canada in a report released on Monday. They presently have a $37.00 price target on the construction company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 37.09% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Longbow Research reissued a “neutral” rating on shares of Louisiana-Pacific Corporation in a report on Tuesday, October 10th. BMO Capital Markets lowered shares of Louisiana-Pacific Corporation from a “market perform” rating to an “underperform” rating and boosted their price objective for the company from $22.00 to $24.00 in a report on Friday, September 29th. They noted that the move was a valuation call. BidaskClub raised shares of Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research raised shares of Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, August 3rd. Finally, Stephens assumed coverage on shares of Louisiana-Pacific Corporation in a report on Tuesday, October 24th. They set an “equal weight” rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $29.67.
Louisiana-Pacific Corporation (NYSE LPX) traded up 0.41% during trading on Monday, reaching $26.99. The company had a trading volume of 1,776,918 shares. The stock has a market capitalization of $3.91 billion, a P/E ratio of 15.37 and a beta of 1.31. Louisiana-Pacific Corporation has a 12-month low of $17.41 and a 12-month high of $29.44. The stock has a 50 day moving average of $27.75 and a 200-day moving average of $25.32.
Louisiana-Pacific Corporation (NYSE:LPX) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). Louisiana-Pacific Corporation had a return on equity of 17.13% and a net margin of 10.50%. The firm had revenue of $694.00 million during the quarter, compared to analysts’ expectations of $700.73 million. During the same period in the prior year, the firm posted $0.28 earnings per share. Louisiana-Pacific Corporation’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts forecast that Louisiana-Pacific Corporation will post $2.13 earnings per share for the current fiscal year.
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In other Louisiana-Pacific Corporation news, SVP Michael Sims sold 5,871 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $27.06, for a total value of $158,869.26. Following the completion of the transaction, the senior vice president now owns 41,523 shares in the company, valued at $1,123,612.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rebecca Anne Barckley sold 5,128 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $27.00, for a total transaction of $138,456.00. Following the completion of the transaction, the insider now owns 7,305 shares of the company’s stock, valued at approximately $197,235. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. purchased a new stake in shares of Louisiana-Pacific Corporation during the third quarter worth about $289,000. Canada Pension Plan Investment Board increased its stake in shares of Louisiana-Pacific Corporation by 30.4% during the third quarter. Canada Pension Plan Investment Board now owns 521,200 shares of the construction company’s stock worth $14,114,000 after purchasing an additional 121,600 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Louisiana-Pacific Corporation during the third quarter worth about $271,000. Parametrica Management Ltd purchased a new stake in shares of Louisiana-Pacific Corporation during the third quarter worth about $498,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Louisiana-Pacific Corporation during the third quarter worth about $292,000. 91.81% of the stock is owned by institutional investors and hedge funds.
Louisiana-Pacific Corporation 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, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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