Royal Bank of Canada Increases Louisiana-Pacific (NYSE:LPX) Price Target to $105.00

Louisiana-Pacific (NYSE:LPX) had its price objective lifted by equities researchers at Royal Bank of Canada from $88.00 to $105.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the building manufacturing company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 22.74% from the company’s previous close.

Several other research analysts have also recently weighed in on LPX. DA Davidson reissued a “buy” rating and set a $76.00 price objective on shares of Louisiana-Pacific in a report on Tuesday, February 13th. TheStreet cut Louisiana-Pacific from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. TD Cowen restated a “hold” rating and issued a $75.00 target price on shares of Louisiana-Pacific in a report on Thursday, January 11th. Loop Capital initiated coverage on shares of Louisiana-Pacific in a research report on Friday, May 3rd. They set a “hold” rating and a $82.00 target price on the stock. Finally, BMO Capital Markets upped 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. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $80.00.

Louisiana-Pacific Stock Down 2.9 %

LPX stock traded down $2.59 during mid-day trading on Thursday, reaching $85.55. 1,239,052 shares of the company traded hands, compared to its average volume of 916,716. The firm’s 50 day moving average price is $77.41 and its 200 day moving average price is $69.26. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 34.91 and a beta of 1.87. The company has a quick ratio of 1.54, a current ratio of 3.00 and a debt-to-equity ratio of 0.22. Louisiana-Pacific has a fifty-two week low of $49.47 and a fifty-two week high of $88.40.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, May 8th. The building manufacturing company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.40. Louisiana-Pacific had a net margin of 6.90% and a return on equity of 15.65%. The company had revenue of $724.00 million during the quarter, compared to analyst estimates of $686.84 million. During the same period last year, the business earned $0.34 earnings per share. Louisiana-Pacific’s revenue was up 24.0% compared to the same quarter last year. As a group, equities research analysts predict that Louisiana-Pacific will post 4.89 EPS for the current fiscal year.

Insider Activity

In related news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $77.58, for a total transaction of $193,950.00. Following the transaction, the director now directly owns 25,995 shares of the company’s stock, valued at $2,016,692.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.53% of the company’s stock.

Institutional Investors Weigh In On Louisiana-Pacific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eminence Capital LP increased its position in 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 worth $145,697,000 after acquiring an additional 491,641 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in 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 worth $110,717,000 after purchasing an additional 712,671 shares during the period. Franklin Resources Inc. boosted its stake in Louisiana-Pacific by 10.0% in the 4th quarter. Franklin Resources Inc. now owns 1,136,025 shares of the building manufacturing company’s stock valued at $80,465,000 after buying an additional 103,249 shares in the last quarter. Channing Capital Management LLC acquired a new position in Louisiana-Pacific during the fourth quarter worth $73,662,000. Finally, Invesco Ltd. grew its holdings in shares of Louisiana-Pacific by 57.8% in the 3rd quarter. Invesco Ltd. now owns 796,563 shares of the building manufacturing company’s stock worth $44,026,000 after purchasing an additional 291,833 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.