Truist Financial Forecasts Strong Price Appreciation for Louisiana-Pacific (NYSE:LPX) Stock

Louisiana-Pacific (NYSE:LPX) had its price objective boosted by equities researchers at Truist Financial from $102.00 to $108.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the building manufacturing company’s stock. Truist Financial’s price target would suggest a potential upside of 36.51% from the company’s previous close.

Other analysts have also issued research reports about the company. DA Davidson reiterated a “buy” rating and issued a $117.00 price target on shares of Louisiana-Pacific in a report on Thursday, November 20th. Vertical Research began coverage on Louisiana-Pacific in a research report on Monday, October 20th. They set a “buy” rating for the company. Royal Bank Of Canada dropped their price target on Louisiana-Pacific from $114.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Louisiana-Pacific in a report on Monday, December 29th. Finally, Zacks Research cut shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.43.

Louisiana-Pacific Trading Down 7.0%

NYSE LPX opened at $79.12 on Tuesday. The stock has a market cap of $5.51 billion, a PE ratio of 25.60 and a beta of 1.80. Louisiana-Pacific has a 12 month low of $73.42 and a 12 month high of $119.91. The company’s 50-day moving average price is $81.56 and its 200-day moving average price is $88.14. The company has a current ratio of 2.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $663.00 million for the quarter, compared to the consensus estimate of $670.26 million. Louisiana-Pacific had a net margin of 7.69% and a return on equity of 14.90%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 EPS. Equities research analysts forecast that Louisiana-Pacific will post 5.27 earnings per share for the current year.

Insider Buying and Selling at Louisiana-Pacific

In other news, CEO William Bradley Southern sold 1,318 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $85.38, for a total value of $112,530.84. Following the completion of the sale, the chief executive officer owned 558,590 shares of the company’s stock, valued at $47,692,414.20. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen E. Macadam bought 3,200 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $78.06 per share, for a total transaction of $249,792.00. Following the completion of the purchase, the director owned 41,149 shares in the company, valued at $3,212,090.94. The trade was a 8.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its position in Louisiana-Pacific by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 555,489 shares of the building manufacturing company’s stock worth $47,766,000 after acquiring an additional 29,803 shares during the period. Ceredex Value Advisors LLC raised its stake in shares of Louisiana-Pacific by 57.2% in the second quarter. Ceredex Value Advisors LLC now owns 124,100 shares of the building manufacturing company’s stock worth $10,671,000 after purchasing an additional 45,175 shares during the last quarter. Strs Ohio purchased a new position in shares of Louisiana-Pacific in the first quarter worth about $1,439,000. Entropy Technologies LP acquired a new stake in shares of Louisiana-Pacific during the second quarter worth about $424,000. Finally, Elo Mutual Pension Insurance Co purchased a new stake in Louisiana-Pacific in the second quarter valued at approximately $977,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.