Louisiana-Pacific Corp. (LPX) Reaches New 52-Week High at $20.00
Louisiana-Pacific Corp. (NYSE:LPX)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $20.00 and last traded at $19.73, with a volume of 874,213 shares. The stock had previously closed at $19.70.
Separately, Zacks Investment Research cut shares of Louisiana-Pacific Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 13th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.44.
The firm’s 50-day moving average is $17.78 and its 200-day moving average is $16.87. The stock’s market capitalization is $2.84 billion.
Louisiana-Pacific Corp. (NYSE:LPX) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.75. The company earned $504.60 million during the quarter, compared to analyst estimates of $513.81 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. Louisiana-Pacific Corp.’s revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Louisiana-Pacific Corp. will post $0.67 EPS for the current fiscal year.
In related news, Director Colin D. Watson sold 4,717 shares of Louisiana-Pacific Corp. stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $17.88, for a total value of $84,339.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Brian Eugene Luoma sold 10,792 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were 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 disclosure for this sale can be found here.
Other institutional investors have modified their holdings of the company. Sei Investments Co. raised its position 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 valued at $1,299,000 after buying an additional 7,979 shares during the period. Comerica Bank raised its position 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 valued at $1,801,000 after buying an additional 1,655 shares during the period. South Dakota Investment Council raised its position 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 valued at $3,011,000 after buying an additional 24,000 shares during the period. Retirement Systems of Alabama raised its position in shares of Louisiana-Pacific Corp. by 1.5% in the fourth quarter. Retirement Systems of Alabama now owns 183,567 shares of the company’s stock valued at $3,306,000 after buying an additional 2,628 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Louisiana-Pacific Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 264,004 shares of the company’s stock valued at $4,755,000 after buying an additional 4,036 shares during the period.
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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