Louisiana-Pacific (NYSE:LPX) Stock Price Target Lowered at Bank of America

Key Points

• Bank of America lowered Louisiana-Pacific’s price target from $100 to $85 while maintaining a “buy” rating, implying approximately 27% upside from the prior close.
• Analyst sentiment remains broadly positive: 12 analysts rate the stock Buy, two Hold, and one Sell, producing a “Moderate Buy” consensus and average target of $91.17.
• 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; the stock opened at $66.90 and has a 52-week range of $62.18 to $100.34.

Louisiana-Pacific (NYSE:LPX - Get Free Report) had its target price dropped by stock analysts at Bank of America from $100.00 to $85.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the building manufacturing company's stock. Bank of America's target price points to a potential upside of 27.05% from the stock's previous close.

Several other analysts have also recently commented on the company. Zacks Research upgraded Louisiana-Pacific from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Barclays cut their price objective on shares of Louisiana-Pacific from $92.00 to $88.00 and set an "overweight" rating on the stock in a report on Tuesday, October 6th. TD raised 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. Jefferies Financial Group initiated coverage on shares of Louisiana-Pacific in a research report on Tuesday, June 23rd. They issued a "buy" rating and a $93.00 target price on the stock. Finally, The Goldman Sachs Group lowered their target price on shares of Louisiana-Pacific from $74.00 to $64.00 and set a "sell" rating for the company in a report on Monday. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Louisiana-Pacific presently has an average rating of "Moderate Buy" and an average target price of $91.17.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX opened at $66.90 on Wednesday. The company has a market cap of $4.68 billion, a P/E ratio of 56.35, a P/E/G ratio of 10.05 and a beta of 1.63. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a 52 week low of $62.18 and a 52 week high of $100.34. The business has a fifty day simple moving average of $69.14 and a 200-day simple moving average of $72.28.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.16). Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The business had revenue of $664.00 million during the quarter, compared to analyst estimates of $667.31 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. The business's revenue for the quarter was down 12.1% compared to the same quarter last year. Equities research analysts forecast that Louisiana-Pacific will post 1.08 EPS for the current year.

Institutional Investors Weigh In On Louisiana-Pacific

A number of institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Louisiana-Pacific by 27.3% during the second quarter. Versant Capital Management Inc now owns 630 shares of the building manufacturing company's stock worth $50,000 after buying an additional 135 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Louisiana-Pacific by 26.0% during the first quarter. EverSource Wealth Advisors LLC now owns 692 shares of the building manufacturing company's stock worth $50,000 after buying an additional 143 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Louisiana-Pacific by 1.6% in the second quarter. Valeo Financial Advisors LLC now owns 9,225 shares of the building manufacturing company's stock valued at $726,000 after acquiring an additional 147 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Louisiana-Pacific by 4.2% in the second quarter. HB Wealth Management LLC now owns 4,106 shares of the building manufacturing company's stock valued at $323,000 after acquiring an additional 164 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Louisiana-Pacific by 2.3% in the second quarter. NewEdge Advisors LLC now owns 8,875 shares of the building manufacturing company's stock valued at $698,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Company Profile

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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