Louisiana-Pacific (NYSE:LPX) Given New $135.00 Price Target at Truist Financial

Louisiana-Pacific (NYSE:LPX) had its target price hoisted by Truist Financial from $117.00 to $135.00 in a report issued on Monday,Benzinga reports. Truist Financial currently has a buy rating on the building manufacturing company’s stock.

Other analysts also recently issued reports about the company. TD Securities increased their price target on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. StockNews.com downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Sunday, November 10th. Royal Bank of Canada upped their price target on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their price objective on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, Bank of America upped their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $104.67.

Louisiana-Pacific Price Performance

LPX opened at $106.82 on Monday. The company has a 50 day moving average of $110.57 and a two-hundred day moving average of $101.04. Louisiana-Pacific has a 52-week low of $63.76 and a 52-week high of $122.87. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21. The company has a market cap of $7.50 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.72 and a beta of 1.94.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, November 20th. Louisiana-Pacific’s payout ratio is 17.93%.

Insider Transactions at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 300 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total value of $34,023.00. Following the completion of the transaction, the director now directly owns 28,638 shares in the company, valued at $3,247,835.58. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the sale, the director now directly owns 18,513 shares in the company, valued at approximately $2,101,225.50. The trade was a 11.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.53% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of Louisiana-Pacific by 158.5% in the fourth quarter. Versant Capital Management Inc now owns 349 shares of the building manufacturing company’s stock valued at $36,000 after buying an additional 214 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Louisiana-Pacific during the 3rd quarter valued at $38,000. V Square Quantitative Management LLC bought a new stake in shares of Louisiana-Pacific during the 3rd quarter worth $43,000. Covestor Ltd grew its holdings in shares of Louisiana-Pacific by 61.0% in the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after acquiring an additional 163 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Louisiana-Pacific by 77.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company’s stock worth $50,000 after purchasing an additional 201 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.