Louisiana-Pacific (NYSE:LPX) Price Target Raised to $99.00

Louisiana-Pacific (NYSE:LPX) had its price target lifted by The Goldman Sachs Group from $90.00 to $99.00 in a report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the building manufacturing company’s stock.

A number of other equities research analysts have also recently commented on LPX. BMO Capital Markets cut Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 target price on the stock. in a research report on Thursday, August 8th. Truist Financial boosted their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Saturday, November 2nd. Bank of America lifted their price target 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. Finally, Royal Bank of Canada upped their price objective on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Two investment 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 data from MarketBeat.com, Louisiana-Pacific presently has an average rating of “Hold” and an average target price of $101.78.

Louisiana-Pacific Trading Up 2.6 %

Louisiana-Pacific stock opened at $111.63 on Wednesday. The firm has a market cap of $7.84 billion, a PE ratio of 19.25, a P/E/G ratio of 4.79 and a beta of 1.88. Louisiana-Pacific has a 12 month low of $57.13 and a 12 month high of $113.04. The stock’s 50 day simple moving average is $102.40 and its two-hundred day simple moving average is $93.49. The company has a current ratio of 2.92, a quick ratio of 1.95 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Louisiana-Pacific had a net margin of 14.29% and a return on equity of 24.50%. The firm had revenue of $814.00 million for the quarter, compared to the consensus estimate of $797.26 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s quarterly revenue was up 33.2% compared to the same quarter last year. Analysts anticipate that Louisiana-Pacific will post 5.29 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Wednesday, November 20th. Louisiana-Pacific’s payout ratio is 17.93%.

Insider Activity

In related news, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the sale, the chief executive officer now owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the sale, the director now owns 21,005 shares of the company’s stock, valued at approximately $2,064,791.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Bradley Southern sold 32,600 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now directly owns 596,886 shares in the company, valued at $55,773,027.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Institutional Trading of Louisiana-Pacific

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Louisiana-Pacific by 4.3% during the 3rd quarter. CWM LLC now owns 2,376 shares of the building manufacturing company’s stock worth $255,000 after purchasing an additional 97 shares during the period. Gateway Investment Advisers LLC lifted its stake in Louisiana-Pacific by 4.0% during the third quarter. Gateway Investment Advisers LLC now owns 2,603 shares of the building manufacturing company’s stock worth $280,000 after purchasing an additional 99 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Louisiana-Pacific by 23.3% during the third quarter. Hanseatic Management Services Inc. now owns 835 shares of the building manufacturing company’s stock worth $90,000 after buying an additional 158 shares during the period. Covestor Ltd grew its stake in shares of Louisiana-Pacific by 61.0% in the third quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock valued at $46,000 after buying an additional 163 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Louisiana-Pacific by 1.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,027 shares of the building manufacturing company’s stock valued at $1,237,000 after buying an additional 167 shares during the period. 94.73% of the stock is 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.