BMO Capital Markets Forecasts Strong Price Appreciation for Louisiana-Pacific (NYSE:LPX) Stock

Louisiana-Pacific (NYSE:LPX) had its price target upped by research analysts at BMO Capital Markets from $99.00 to $103.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the building manufacturing company’s stock. BMO Capital Markets’ price target suggests a potential downside of 7.62% from the stock’s previous close.

Other analysts have also issued reports about the company. Truist Financial raised their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. DA Davidson boosted their price target on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. TD Securities upped their price objective on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. StockNews.com lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Royal Bank of Canada upped their price target on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Louisiana-Pacific currently has an average rating of “Hold” and an average price target of $102.22.

Louisiana-Pacific Trading Down 1.1 %

LPX stock opened at $111.49 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21. Louisiana-Pacific has a 52-week low of $59.71 and a 52-week high of $114.26. The company’s 50-day simple moving average is $103.42 and its 200-day simple moving average is $94.27. The firm has a market cap of $7.83 billion, a P/E ratio of 19.22, a PEG ratio of 2.72 and a beta of 1.88.

Insider Transactions at Louisiana-Pacific

In related news, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the completion of the sale, the chief executive officer now owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the transaction, the director now owns 21,005 shares in the company, valued at $2,064,791.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the sale, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at $55,773,027.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

A number of institutional investors have recently bought and sold shares of LPX. Harbor Capital Advisors Inc. acquired a new stake in shares of Louisiana-Pacific during the 3rd quarter worth approximately $38,000. V Square Quantitative Management LLC purchased a new position in Louisiana-Pacific in the third quarter worth approximately $43,000. Covestor Ltd increased its stake in Louisiana-Pacific by 61.0% during the third quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after acquiring an additional 163 shares during the last quarter. Bessemer Group Inc. raised its position in Louisiana-Pacific by 258.5% in the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after purchasing an additional 318 shares during the period. Finally, First Horizon Advisors Inc. raised its position in Louisiana-Pacific by 77.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company’s stock valued at $50,000 after purchasing an additional 201 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.