Louisiana-Pacific Corp. (LPX) Trading Down 2.2%
Louisiana-Pacific Corp. (NYSE:LPX) fell 2.2% on Monday . The stock traded as low as $19.63 and last traded at $19.85, with a volume of 1,077,275 shares traded. The stock had previously closed at $20.30.
Several research firms recently weighed in on LPX. BMO Capital Markets lowered Louisiana-Pacific Corp. from an “outperform” rating to a “market perform” rating and set a $20.00 target price for the company. in a report on Monday. They noted that the move was a valuation call. Dundee Securities upgraded Louisiana-Pacific Corp. from a “neutral” rating to a “buy” rating in a report on Thursday, July 21st. Finally, Zacks Investment Research upgraded Louisiana-Pacific Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, June 1st. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Louisiana-Pacific Corp. currently has an average rating of “Buy” and an average target price of $18.75.
The firm has a market capitalization of $2.82 billion and a P/E ratio of 360.73. The company has a 50-day moving average price of $18.83 and a 200 day moving average price of $17.28.
Louisiana-Pacific Corp. (NYSE:LPX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The company earned $582 million during the quarter, compared to the consensus estimate of $578.30 million. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities research analysts anticipate that Louisiana-Pacific Corp. will post $0.79 EPS for the current year.
In other Louisiana-Pacific Corp. news, SVP Brian Eugene Luoma sold 10,792 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $18.53, for a total value of $199,975.76. Following the completion of the transaction, the senior vice president now directly owns 74,534 shares in the company, valued at $1,381,115.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Colin D. Watson sold 4,717 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $17.88, for a total value of $84,339.96. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. Comerica Bank increased its position in 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 in the last quarter. Principal Financial Group Inc. increased its position 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 valued at $8,065,000 after buying an additional 12,583 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Louisiana-Pacific Corp. by 8.4% in the fourth quarter. California Public Employees Retirement System now owns 386,900 shares of the company’s stock valued at $6,968,000 after buying an additional 30,100 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Louisiana-Pacific Corp. by 14.7% in the fourth quarter. Jennison Associates LLC now owns 2,023,609 shares of the company’s stock valued at $36,445,000 after buying an additional 259,613 shares in 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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