Louisiana-Pacific (NYSE:LPX) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Louisiana-Pacific from “strong sell” to “hold,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $93.33.
• Louisiana-Pacific shares opened at $66.97, well below the 52-week high of $100.34. The company’s latest quarterly earnings missed estimates, with EPS of $0.40 versus $0.56 expected and revenue down 12.1% year over year.
• Institutional investors own approximately 94.73% of the stock, and several funds increased their positions during the first quarter.

Louisiana-Pacific (NYSE:LPX - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

Several other research analysts also recently weighed in on the company. Jefferies Financial Group started coverage on Louisiana-Pacific in a research note on Tuesday, June 23rd. They set a "buy" rating and a $93.00 price target for the company. The Goldman Sachs Group boosted their price objective on Louisiana-Pacific from $66.00 to $74.00 and gave the company a "sell" rating in a research note on Thursday, August 6th. DA Davidson reaffirmed a "buy" rating and set a $99.00 price objective on shares of Louisiana-Pacific in a report on Wednesday, September 2nd. TD increased their target price on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of Louisiana-Pacific from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, September 2nd. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Louisiana-Pacific has an average rating of "Moderate Buy" and a consensus target price of $93.33.

Louisiana-Pacific Stock Performance

Shares of LPX stock opened at $66.97 on Monday. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 84.78, a P/E/G ratio of 9.24 and a beta of 1.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 3.22. Louisiana-Pacific has a 52 week low of $62.18 and a 52 week high of $100.34. The firm's 50-day simple moving average is $69.96 and its two-hundred day simple moving average is $72.53.

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

Institutional Investors Weigh In On Louisiana-Pacific

Hedge funds and other institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC bought a new stake in Louisiana-Pacific during the 1st quarter worth approximately $25,000. Parallel Advisors LLC grew its position in shares of Louisiana-Pacific by 204.0% during the 1st 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 in the last quarter. Root Financial Partners LLC grew its position 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. Whittier Trust Co. raised its position in shares of Louisiana-Pacific by 138.1% in the first quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company's stock worth $36,000 after buying an additional 290 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Louisiana-Pacific by 1,505.4% during the first quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company's stock valued at $43,000 after buying an additional 557 shares during the period. 94.73% of the stock is currently owned by institutional investors.

About Louisiana-Pacific

Louisiana-Pacific Corporation NYSE: LPX is a manufacturer of building products used in residential and light commercial construction. The company's portfolio includes engineered wood siding and trim, oriented strand board (OSB), and other engineered wood products designed for wall, roof, and structural applications.

Louisiana-Pacific is best known for its LP SmartSide siding and trim products, which are made from engineered wood and marketed as alternatives to traditional wood siding.

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