Louisiana-Pacific (NYSE:LPX) Price Target Raised to $90.00 at TD Securities

Louisiana-Pacific (NYSE:LPX) had its target price hoisted by stock analysts at TD Securities from $87.00 to $90.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the building manufacturing company’s stock. TD Securities’ target price would indicate a potential upside of 3.48% from the company’s previous close.

A number of other research analysts have also recently commented on the company. BMO Capital Markets raised their price target on Louisiana-Pacific from $83.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday. Loop Capital began coverage on Louisiana-Pacific in a report on Friday, May 3rd. They set a “hold” rating and a $82.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Louisiana-Pacific from $88.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen reissued a “hold” rating and issued a $75.00 price target on shares of Louisiana-Pacific in a research note on Thursday, January 11th. Finally, TheStreet downgraded shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.89.

Louisiana-Pacific Stock Down 1.3 %

LPX stock traded down $1.17 during mid-day trading on Thursday, hitting $86.97. 2,492,530 shares of the company were exchanged, compared to its average volume of 926,999. The firm has a market cap of $6.29 billion, a P/E ratio of 35.10 and a beta of 1.87. Louisiana-Pacific has a 1-year low of $49.47 and a 1-year high of $88.40. The firm’s 50 day simple moving average is $77.41 and its 200 day simple moving average is $69.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.54 and a current ratio of 3.00.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Wednesday, May 8th. The building manufacturing company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.13 by $0.40. The firm had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $686.84 million. Louisiana-Pacific had a return on equity of 15.65% and a net margin of 6.90%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, sell-side analysts predict that Louisiana-Pacific will post 4.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $77.58, for a total value of $193,950.00. Following the sale, the director now owns 25,995 shares of the company’s stock, valued at approximately $2,016,692.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Hedge funds and other institutional investors have recently modified their holdings of the company. Channing Capital Management LLC bought a new stake in shares of Louisiana-Pacific in the fourth quarter worth about $73,662,000. Norges Bank bought a new position in shares of Louisiana-Pacific during the fourth quarter valued at approximately $53,186,000. Balyasny Asset Management L.P. increased its position in Louisiana-Pacific by 16,827.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 717,059 shares of the building manufacturing company’s stock valued at $50,789,000 after buying an additional 712,823 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Louisiana-Pacific by 83.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,563,117 shares of the building manufacturing company’s stock valued at $110,717,000 after acquiring an additional 712,671 shares in the last quarter. Finally, Eminence Capital LP grew its holdings in shares of Louisiana-Pacific by 31.4% during the fourth quarter. Eminence Capital LP now owns 2,056,991 shares of the building manufacturing company’s stock valued at $145,697,000 after buying an additional 491,641 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.