DA Davidson Reiterates "Buy" Rating for Louisiana-Pacific (NYSE:LPX)

Key Points

• DA Davidson reaffirmed its “Buy” rating on Louisiana-Pacific and set a $99 price target, implying approximately 42.9% upside from the prior close.
• Analyst sentiment remains broadly positive, with 11 Buy ratings and three Sell ratings; MarketBeat lists a “Moderate Buy” consensus and an average price target of $94.
• Louisiana-Pacific’s latest quarterly results fell short of expectations, with EPS of $0.40 versus $0.56 expected and revenue down 12.1% year over year to $664 million. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific (NYSE:LPX - Get Free Report)'s stock had its "buy" rating reaffirmed by DA Davidson in a note issued to investors on Wednesday, Benzinga reports. They currently have a $99.00 target price on the building manufacturing company's stock. DA Davidson's target price points to a potential upside of 42.93% from the stock's previous close.

LPX has been the topic of several other research reports. Weiss Ratings lowered Louisiana-Pacific from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. TD Securities upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating in a research note on Thursday, May 7th. Barclays cut their price objective on Louisiana-Pacific from $93.00 to $92.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. The Goldman Sachs Group upped their target price on shares of Louisiana-Pacific from $66.00 to $74.00 and gave the stock a "sell" rating in a report on Thursday, August 6th. Finally, Bank of America increased their target price on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX traded up $0.46 during midday trading on Wednesday, reaching $69.27. 251,598 shares of the company's stock were exchanged, compared to its average volume of 1,139,895. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 3.22. The company's 50 day simple moving average is $74.60 and its two-hundred day simple moving average is $75.32. Louisiana-Pacific has a 12 month low of $66.12 and a 12 month high of $101.28. The firm has a market capitalization of $4.84 billion, a PE ratio of 87.67, a price-to-earnings-growth ratio of 9.98 and a beta of 1.59.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.16). Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The business had revenue of $664.00 million for the quarter, compared to the consensus estimate of $667.31 million. During the same quarter in the prior year, the business earned $0.99 EPS. The firm's revenue for the quarter was down 12.1% on a year-over-year basis. Equities research analysts expect that Louisiana-Pacific will post 1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Western Wealth Management LLC acquired a new position in shares of Louisiana-Pacific in the 1st quarter valued at $25,000. North Ridge Wealth Advisors Inc. bought a new position in Louisiana-Pacific during the second quarter worth about $26,000. Parallel Advisors LLC increased its holdings in shares of Louisiana-Pacific by 204.0% in the first quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company's stock worth $28,000 after acquiring an additional 255 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Louisiana-Pacific during the fourth quarter worth about $29,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Louisiana-Pacific by 177.6% during the 1st quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company's stock valued at $32,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

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.

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