Louisiana-Pacific (NYSE:LPX) Price Target Raised to $93.00

Louisiana-Pacific (NYSE:LPX) had its price objective raised by investment analysts at Barclays from $89.00 to $93.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the building manufacturing company’s stock. Barclays‘s price objective would suggest a potential upside of 28.89% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets raised shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a research report on Thursday, May 7th. Oppenheimer reduced their target price on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. DA Davidson reaffirmed a “buy” rating and set a $114.00 price target on shares of Louisiana-Pacific in a research note on Tuesday, May 5th. TD upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Thursday, May 7th. Finally, Jefferies Financial Group began coverage on Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.22.

Louisiana-Pacific Stock Down 1.4%

NYSE:LPX opened at $72.16 on Tuesday. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 61.15, a price-to-earnings-growth ratio of 1.84 and a beta of 1.60. Louisiana-Pacific has a twelve month low of $66.12 and a twelve month high of $102.86. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $74.37 and a 200-day simple moving average of $79.15.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. The firm had revenue of $574.00 million for the quarter, compared to analysts’ expectations of $569.99 million. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 earnings per share. Analysts anticipate that Louisiana-Pacific will post 2 EPS for the current year.

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds and other institutional investors have recently modified their holdings of LPX. Western Wealth Management LLC purchased a new position in Louisiana-Pacific during the first quarter valued at approximately $25,000. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Louisiana-Pacific during the 2nd quarter worth $26,000. Parallel Advisors LLC grew its stake in Louisiana-Pacific by 204.0% in the first quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock valued at $28,000 after purchasing an additional 255 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Louisiana-Pacific in the fourth quarter worth about $29,000. Finally, Root Financial Partners LLC raised its holdings in Louisiana-Pacific by 177.6% in the first quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock worth $32,000 after purchasing an additional 277 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Louisiana-Pacific Company Profile

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.