Bank of America Boosts Louisiana-Pacific (NYSE:LPX) Price Target to $101.00

Key Points

• Bank of America raised its price target on Louisiana-Pacific to $101 from $85 and kept a buy rating, implying about 36.6% upside from the current share price.
• Other analysts remain broadly positive on the stock, with multiple firms reiterating or initiating buy ratings; MarketBeat says Louisiana-Pacific now has an average rating of Moderate Buy and an average target price of $97.60.
• The stock was up 2.4% to $73.92 in Tuesday trading, while the company recently beat quarterly EPS estimates but reported year-over-year revenue decline of 20.7%.

Louisiana-Pacific (NYSE:LPX - Get Free Report) had its price objective hoisted by stock analysts at Bank of America from $85.00 to $101.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the building manufacturing company's stock. Bank of America's target price indicates a potential upside of 36.62% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group began coverage on Louisiana-Pacific in a research report on Tuesday, June 23rd. They set a "buy" rating and a $93.00 target price on the stock. Truist Financial reiterated a "buy" rating and issued a $93.00 price target (down from $95.00) on shares of Louisiana-Pacific in a research note on Friday, May 8th. DA Davidson reissued a "buy" rating and set a $114.00 price objective on shares of Louisiana-Pacific in a report on Tuesday, May 5th. BMO Capital Markets upgraded 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. Finally, TD Securities upgraded shares of Louisiana-Pacific from a "hold" rating to a "buy" rating in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Louisiana-Pacific presently has an average rating of "Moderate Buy" and an average target price of $97.60.

Louisiana-Pacific Stock Up 2.4%

NYSE LPX traded up $1.73 on Tuesday, hitting $73.92. 527,227 shares of the stock were exchanged, compared to its average volume of 1,129,532. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a fifty-two week low of $66.12 and a fifty-two week high of $102.86. The company has a market cap of $5.16 billion, a PE ratio of 62.69, a PEG ratio of 1.84 and a beta of 1.60. The company has a 50-day moving average price of $74.37 and a 200-day moving average price of $79.15.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.24. The business had revenue of $574.00 million during 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 company's revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. Sell-side analysts anticipate that Louisiana-Pacific will post 2 EPS for the current fiscal year.

Institutional Trading of Louisiana-Pacific

Institutional investors and hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new position in shares of Louisiana-Pacific during the third quarter worth about $14,285,000. Jefferies Financial Group Inc. purchased a new stake in Louisiana-Pacific during the 4th quarter valued at approximately $14,472,000. Geode Capital Management LLC lifted its position in Louisiana-Pacific by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,160,434 shares of the building manufacturing company's stock worth $93,735,000 after acquiring an additional 18,287 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Louisiana-Pacific by 2,547.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 385,416 shares of the building manufacturing company's stock valued at $31,126,000 after purchasing an additional 370,856 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Louisiana-Pacific by 12.5% in the fourth quarter. First Eagle Investment Management LLC now owns 195,699 shares of the building manufacturing company's stock valued at $15,805,000 after purchasing an additional 21,783 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

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.

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