Louisiana-Pacific (NYSE:LPX) Given New $91.00 Price Target at Truist Financial

Louisiana-Pacific (NYSE:LPX) had its target price decreased by Truist Financial from $93.00 to $91.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the building manufacturing company’s stock.

Several other brokerages have also recently commented on LPX. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Oppenheimer cut their price target on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. DA Davidson reissued a “buy” rating and set a $114.00 price target on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. BMO Capital Markets raised Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Louisiana-Pacific presently has a consensus rating of “Moderate Buy” and an average target price of $97.80.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $73.62 on Wednesday. Louisiana-Pacific has a 12 month low of $66.12 and a 12 month high of $102.86. The stock’s 50 day moving average is $74.51 and its 200-day moving average is $79.04. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 1.93 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The business had revenue of $574.00 million during the quarter, compared to analysts’ expectations of $569.99 million. During the same period last year, the firm posted $1.27 EPS. The firm’s revenue for the quarter was down 20.7% compared to the same quarter last year. Equities research analysts expect that Louisiana-Pacific will post 1.96 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 101.69%.

Institutional Trading of Louisiana-Pacific

Several institutional investors and hedge funds have recently modified their holdings of LPX. Boston Partners bought a new stake in shares of Louisiana-Pacific during the 3rd quarter valued at approximately $100,770,000. Capital Research Global Investors increased its position in Louisiana-Pacific by 306.2% during the 4th quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company’s stock worth $102,848,000 after purchasing an additional 960,000 shares in the last quarter. Eminence Capital LP lifted its stake in Louisiana-Pacific by 29.9% in the 4th quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock valued at $326,927,000 after purchasing an additional 932,177 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Louisiana-Pacific during the 1st quarter worth $56,596,000. Finally, Norges Bank bought a new stake in Louisiana-Pacific during the 4th quarter worth $60,184,000. 94.73% of the stock is currently owned by institutional investors.

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.