Louisiana-Pacific Corp. (LPX) Shares Gap Up to $20.42
Louisiana-Pacific Corp. (NYSE:LPX) gapped up before the market opened on Thursday . The stock had previously closed at $20.40, but opened at $20.42. Louisiana-Pacific Corp. shares last traded at $20.51, with a volume of 818,735 shares.
Several equities research analysts have commented on LPX shares. Dundee Securities upgraded Louisiana-Pacific Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded Louisiana-Pacific Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, June 1st. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Louisiana-Pacific Corp. has an average rating of “Buy” and an average target price of $18.44.
The company’s market cap is $2.93 billion. The firm has a 50-day moving average of $18.01 and a 200 day moving average of $16.96.
Louisiana-Pacific Corp. (NYSE:LPX) last announced its earnings results on Monday, May 9th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.75. The business had revenue of $504.60 million for the quarter, compared to analyst estimates of $513.81 million. Louisiana-Pacific Corp.’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) EPS. On average, equities analysts predict that Louisiana-Pacific Corp. will post $0.69 earnings per share for the current year.
In related news, Director Colin D. Watson sold 14,845 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $18.58, for a total value of $275,820.10. Following the completion of the sale, the director now owns 19,562 shares in the company, valued at $363,461.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Colin D. Watson sold 4,717 shares of the firm’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $17.88, for a total transaction of $84,339.96. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in the stock. Comerica Bank increased its stake in shares of Louisiana-Pacific Corp. by 1.5% in the fourth quarter. Comerica Bank now owns 108,838 shares of the company’s stock worth $1,801,000 after buying an additional 1,655 shares during the last quarter. Sei Investments Co. increased its stake in shares of Louisiana-Pacific Corp. by 12.5% in the fourth quarter. Sei Investments Co. now owns 72,060 shares of the company’s stock worth $1,299,000 after buying an additional 7,979 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Louisiana-Pacific Corp. by 3.7% in the fourth quarter. Rhumbline Advisers now owns 281,085 shares of the company’s stock worth $5,062,000 after buying an additional 10,090 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Louisiana-Pacific Corp. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 447,809 shares of the company’s stock worth $8,065,000 after buying an additional 12,583 shares during the last quarter. Finally, South Dakota Investment Council increased its stake in shares of Louisiana-Pacific Corp. by 16.8% in the fourth quarter. South Dakota Investment Council now owns 167,200 shares of the company’s stock worth $3,011,000 after buying an additional 24,000 shares during the last quarter.
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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