Louisiana-Pacific (NYSE:LPX) Price Target Raised to $110.00 at DA Davidson

Louisiana-Pacific (NYSE:LPX) had its price objective hoisted by DA Davidson from $98.00 to $110.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the building manufacturing company’s stock.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets increased their price target on Louisiana-Pacific from $83.00 to $99.00 and gave the company an outperform rating in a research report on Thursday, May 9th. Seaport Res Ptn cut shares of Louisiana-Pacific from a buy rating to a neutral rating in a report on Thursday, May 9th. Royal Bank of Canada raised their price objective on shares of Louisiana-Pacific from $88.00 to $105.00 and gave the company an outperform rating in a report on Thursday, May 9th. TD Securities boosted their target price on shares of Louisiana-Pacific from $87.00 to $90.00 and gave the stock a hold rating in a research note on Thursday, May 9th. Finally, TheStreet lowered Louisiana-Pacific from a b- rating to a c+ rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $87.11.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $88.93 on Friday. The company has a current ratio of 3.32, a quick ratio of 1.75 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $83.75 and a 200 day moving average price of $75.80. Louisiana-Pacific has a 12-month low of $49.47 and a 12-month high of $95.70. The stock has a market cap of $6.38 billion, a P/E ratio of 24.43, a PEG ratio of 11.97 and a beta of 1.92.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, May 8th. The building manufacturing company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.40. The business had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $686.84 million. Louisiana-Pacific had a net margin of 9.74% and a return on equity of 20.87%. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. Sell-side analysts anticipate that Louisiana-Pacific will post 5.79 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Tuesday, May 21st. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 28.57%.

Hedge Funds Weigh In On Louisiana-Pacific

Large investors have recently modified their holdings of the company. Channing Capital Management LLC acquired a new stake in Louisiana-Pacific during the 4th quarter worth approximately $73,662,000. Norges Bank purchased a new stake in Louisiana-Pacific during the 4th quarter worth $53,186,000. Balyasny Asset Management L.P. increased its holdings in Louisiana-Pacific by 16,827.7% in 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 purchasing an additional 712,823 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Louisiana-Pacific by 83.8% in 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 purchasing an additional 712,671 shares during the period. Finally, Eminence Capital LP lifted its stake 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 worth $145,697,000 after purchasing an additional 491,641 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

About Louisiana-Pacific

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.