Scotiabank Increases Louisiana-Pacific (LPX) Price Target to $30.00

Louisiana-Pacific (NYSE:LPX) had its price objective upped by Scotiabank from $29.00 to $30.00 in a research note issued to investors on Wednesday. The brokerage currently has a “sector perform” rating on the construction company’s stock. Scotiabank’s price objective would indicate a potential downside of 1.09% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, January 9th. Stephens initiated coverage on Louisiana-Pacific in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $30.00 price target on the stock. Royal Bank of Canada restated a “buy” rating and set a $37.00 price target on shares of Louisiana-Pacific in a research report on Monday, October 30th. Bank of America upgraded Louisiana-Pacific from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 24th. Finally, Vertical Research upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.71.

Louisiana-Pacific (LPX) traded down $0.12 during trading hours on Wednesday, reaching $30.33. The company had a trading volume of 1,667,574 shares, compared to its average volume of 1,773,275. The company has a market capitalization of $4,120.20, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 2.74 and a beta of 1.62. Louisiana-Pacific has a 12 month low of $22.07 and a 12 month high of $31.07. The company has a quick ratio of 4.31, a current ratio of 5.25 and a debt-to-equity ratio of 0.24.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, February 13th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.15. The company had revenue of $710.60 million during the quarter, compared to analyst estimates of $654.26 million. Louisiana-Pacific had a return on equity of 20.27% and a net margin of 11.72%. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. equities analysts predict that Louisiana-Pacific will post 2.21 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Louisiana-Pacific by 3.0% during the fourth quarter. BlackRock Inc. now owns 17,529,786 shares of the construction company’s stock valued at $460,331,000 after purchasing an additional 503,239 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Louisiana-Pacific by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,814,005 shares of the construction company’s stock worth $130,370,000 after buying an additional 20,054 shares during the period. State Street Corp increased its holdings in shares of Louisiana-Pacific by 4.5% in the second quarter. State Street Corp now owns 4,649,675 shares of the construction company’s stock worth $112,109,000 after buying an additional 202,141 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Louisiana-Pacific by 9.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,734,888 shares of the construction company’s stock worth $98,078,000 after buying an additional 322,381 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Louisiana-Pacific by 29.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,464,000 shares of the construction company’s stock worth $90,965,000 after buying an additional 783,116 shares during the period. Institutional investors and hedge funds own 92.31% of the company’s stock.

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About Louisiana-Pacific

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.

Analyst Recommendations for Louisiana-Pacific (NYSE:LPX)

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