Louisiana-Pacific (NYSE:LPX) Stock Rating Upgraded by BMO Capital Markets

Louisiana-Pacific (NYSE:LPX) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $94.00 target price on the building manufacturing company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 29.44% from the company’s previous close.

Several other brokerages have also recently issued reports on LPX. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price objective on shares of Louisiana-Pacific in a report on Wednesday, February 18th. Oppenheimer restated an “outperform” rating on shares of Louisiana-Pacific in a research report on Tuesday, March 3rd. DA Davidson reiterated a “buy” rating and issued a $114.00 price objective on shares of Louisiana-Pacific in a research report on Tuesday. Zacks Research cut shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings downgraded shares of Louisiana-Pacific from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Louisiana-Pacific has a consensus rating of “Moderate Buy” and an average price target of $100.17.

Louisiana-Pacific Trading Up 4.1%

Shares of LPX opened at $72.62 on Thursday. Louisiana-Pacific has a twelve month low of $66.68 and a twelve month high of $102.86. The company has a current ratio of 2.78, a quick ratio of 1.53 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.07 billion, a P/E ratio of 34.75, a PEG ratio of 1.07 and a beta of 1.60. The firm’s 50-day moving average is $75.35 and its two-hundred day moving average is $82.10.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.24. The company had revenue of $574.00 million during the quarter, compared to the consensus estimate of $569.99 million. Louisiana-Pacific had a net margin of 5.39% and a return on equity of 10.72%. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period last year, the firm earned $1.27 EPS. On average, research analysts predict that Louisiana-Pacific will post 2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Louisiana-Pacific news, Director F Nicholas Grasberger III acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were acquired at an average price of $85.49 per share, for a total transaction of $1,709,800.00. Following the completion of the acquisition, the director directly owned 38,954 shares of the company’s stock, valued at $3,330,177.46. This trade represents a 105.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lizanne M. Bruce sold 1,300 shares of Louisiana-Pacific stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $78.59, for a total value of $102,167.00. Following the completion of the sale, the director directly owned 17,160 shares of the company’s stock, valued at approximately $1,348,604.40. This represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Louisiana-Pacific

A number of institutional investors have recently bought and sold shares of LPX. D.A. Davidson & CO. grew its stake in shares of Louisiana-Pacific by 5.1% during the 1st quarter. D.A. Davidson & CO. now owns 35,303 shares of the building manufacturing company’s stock valued at $2,568,000 after buying an additional 1,728 shares during the period. State of Michigan Retirement System raised its holdings in Louisiana-Pacific by 2.0% in the first quarter. State of Michigan Retirement System now owns 15,258 shares of the building manufacturing company’s stock valued at $1,110,000 after buying an additional 300 shares during the period. Principal Financial Group Inc. grew its stake in Louisiana-Pacific by 20.5% during the first quarter. Principal Financial Group Inc. now owns 497,852 shares of the building manufacturing company’s stock worth $36,219,000 after buying an additional 84,661 shares during the period. Fifth Third Bancorp raised its stake in shares of Louisiana-Pacific by 749.2% in the 1st quarter. Fifth Third Bancorp now owns 29,681 shares of the building manufacturing company’s stock valued at $2,159,000 after acquiring an additional 26,186 shares during the period. Finally, Simplicity Wealth LLC boosted its position in Louisiana-Pacific by 29.4% during the 1st quarter. Simplicity Wealth LLC now owns 7,384 shares of the building manufacturing company’s stock worth $537,000 after purchasing an additional 1,678 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.