Louisiana-Pacific Corporation (LPX) Sets New 12-Month High at $26.97
Shares of Louisiana-Pacific Corporation (NYSE:LPX) reached a new 52-week high on Thursday . The stock traded as high as $26.97 and last traded at $26.92, with a volume of 1,695,523 shares changing hands. The stock had previously closed at $26.47.
Several analysts have recently weighed in on LPX shares. Zacks Investment Research cut shares of Louisiana-Pacific Corporation from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub upgraded shares of Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. ValuEngine upgraded shares of Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, May 25th. Royal Bank Of Canada restated a “buy” rating and set a $32.00 price objective on shares of Louisiana-Pacific Corporation in a research report on Tuesday, May 23rd. Finally, BMO Capital Markets restated a “hold” rating and set a $22.00 price objective on shares of Louisiana-Pacific Corporation in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.
The company’s 50-day moving average is $24.64 and its 200-day moving average is $24.39. The firm has a market cap of $3.94 billion, a P/E ratio of 15.515 and a beta of 1.27.
Louisiana-Pacific Corporation (NYSE:LPX) last announced its earnings results on Tuesday, August 1st. The construction company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by $0.03. The company had revenue of $694 million for the quarter, compared to analysts’ expectations of $700.73 million. Louisiana-Pacific Corporation had a net margin of 10.50% and a return on equity of 17.13%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts forecast that Louisiana-Pacific Corporation will post $1.98 earnings per share for the current year.
Several large investors have recently made changes to their positions in LPX. BlackRock Inc. raised its holdings in shares of Louisiana-Pacific Corporation by 24,793.7% during the 1st quarter. BlackRock Inc. now owns 16,481,360 shares of the construction company’s stock valued at $409,068,000 after buying an additional 16,415,153 shares during the period. Iridian Asset Management LLC CT purchased a new stake in shares of Louisiana-Pacific Corporation during the 1st quarter valued at about $70,106,000. Vanguard Group Inc. raised its holdings in shares of Louisiana-Pacific Corporation by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 13,197,882 shares of the construction company’s stock valued at $327,572,000 after buying an additional 1,835,706 shares during the period. AJO LP purchased a new stake in shares of Louisiana-Pacific Corporation during the 2nd quarter valued at about $43,821,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Louisiana-Pacific Corporation during the 1st quarter valued at about $28,202,000. Institutional investors and hedge funds own 91.12% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was first published by Daily Political and is owned by of Daily Political. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/09/07/louisiana-pacific-corporation-lpx-sets-new-12-month-high-at-26-97.html.
About Louisiana-Pacific Corporation
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, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.