Louisiana-Pacific (LPX) Upgraded to Buy by Zacks Investment Research
Louisiana-Pacific (NYSE:LPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $31.00 price target on the construction company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.12% from the company’s previous close.
According to Zacks, “Louisiana-Pacific Corporation manufactures building materials and engineered wood products in the United States, Canada, Chile and Brazil. The Company’s products are used by homebuilders and light commercial builders. Louisiana-Pacific’s products include oriented strand board sheathing, flooring, radiant barrier panels, siding and trim, I-joists, laminated veneer lumber, laminated strand lumber and interior decorative moulding. “
LPX has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Louisiana-Pacific in a research note on Monday, September 25th. Vertical Research raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Stephens started coverage on shares of Louisiana-Pacific in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $30.00 price objective for the company. Longbow Research reaffirmed a “neutral” rating on shares of Louisiana-Pacific in a research note on Tuesday, October 10th. Finally, BMO Capital Markets cut shares of Louisiana-Pacific from a “market perform” rating to an “underperform” rating and upped their price objective for the company from $22.00 to $24.00 in a research note on Friday, September 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.33.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Monday, November 6th. The construction company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). Louisiana-Pacific had a return on equity of 20.27% and a net margin of 11.72%. The company had revenue of $718.30 million during the quarter, compared to analysts’ expectations of $731.47 million. During the same period in the prior year, the firm earned $0.32 EPS. Louisiana-Pacific’s quarterly revenue was up 20.4% on a year-over-year basis. sell-side analysts expect that Louisiana-Pacific will post 2.21 earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Louisiana-Pacific by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the construction company’s stock valued at $137,000 after buying an additional 539 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Louisiana-Pacific by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,798 shares of the construction company’s stock worth $140,000 after purchasing an additional 56 shares in the last quarter. Flinton Capital Management LLC raised its holdings in Louisiana-Pacific by 76.1% in the 2nd quarter. Flinton Capital Management LLC now owns 7,296 shares of the construction company’s stock worth $176,000 after purchasing an additional 3,152 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in Louisiana-Pacific in the 3rd quarter worth $202,000. Finally, Riverhead Capital Management LLC raised its holdings in Louisiana-Pacific by 78.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,187 shares of the construction company’s stock worth $197,000 after purchasing an additional 3,587 shares in the last quarter. Institutional investors own 93.08% of the company’s stock.
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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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