Louisiana-Pacific (NYSE:LPX) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Louisiana-Pacific (NYSE:LPX) in a research report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $125.00 price target on the building manufacturing company’s stock.

LPX has been the subject of a number of other research reports. StockNews.com cut shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. The Goldman Sachs Group increased their target price on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Truist Financial boosted their price target on Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, January 6th. BMO Capital Markets increased their price objective on Louisiana-Pacific from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, DA Davidson lifted their price objective on Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $108.00.

Louisiana-Pacific Stock Performance

Shares of NYSE LPX opened at $100.98 on Thursday. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.23 and a beta of 1.95. Louisiana-Pacific has a one year low of $66.77 and a one year high of $122.87. The business has a fifty day simple moving average of $110.52 and a 200 day simple moving average of $106.44. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.24. The company had revenue of $681.00 million during the quarter, compared to analysts’ expectations of $666.75 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. Sell-side analysts expect that Louisiana-Pacific will post 5.37 EPS for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, February 27th. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s dividend payout ratio is presently 17.69%.

Insider Activity

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $113.50, for a total transaction of $283,750.00. Following the sale, the director now owns 18,513 shares of the company’s stock, valued at $2,101,225.50. This represents a 11.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Large investors have recently modified their holdings of the stock. Coldstream Capital Management Inc. increased its position in Louisiana-Pacific by 2.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,700 shares of the building manufacturing company’s stock worth $383,000 after purchasing an additional 95 shares during the period. Hanseatic Management Services Inc. boosted its stake in shares of Louisiana-Pacific by 12.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 935 shares of the building manufacturing company’s stock valued at $97,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Louisiana-Pacific by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the building manufacturing company’s stock valued at $1,802,000 after purchasing an additional 100 shares during the last quarter. Woodmont Investment Counsel LLC grew its position in shares of Louisiana-Pacific by 3.2% during the 4th quarter. Woodmont Investment Counsel LLC now owns 3,254 shares of the building manufacturing company’s stock worth $337,000 after buying an additional 100 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Louisiana-Pacific by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 2,202 shares of the building manufacturing company’s stock worth $228,000 after buying an additional 114 shares during the last quarter. 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.