DA Davidson Lowers Louisiana-Pacific (NYSE:LPX) Price Target to $117.00

Louisiana-Pacific (NYSE:LPX - Get Free Report) had its price target reduced by DA Davidson from $123.00 to $117.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the building manufacturing company's stock. DA Davidson's price objective would indicate a potential upside of 33.75% from the company's current price.

A number of other analysts have also recently issued reports on LPX. Royal Bank Of Canada upped their target price on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Loop Capital upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research note on Wednesday, May 7th. Finally, Truist Financial lowered their target price on shares of Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Louisiana-Pacific presently has an average rating of "Hold" and an average price target of $106.63.

Louisiana-Pacific Stock Down 0.8%

Shares of Louisiana-Pacific stock traded down $0.71 during trading hours on Wednesday, hitting $87.48. The company had a trading volume of 139,248 shares, compared to its average volume of 693,496. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.03 and a quick ratio of 1.59. The company's 50-day moving average is $89.34 and its two-hundred day moving average is $98.20. The company has a market cap of $6.09 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.30 and a beta of 1.89. Louisiana-Pacific has a twelve month low of $78.82 and a twelve month high of $122.87.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.14. Louisiana-Pacific had a net margin of 13.74% and a return on equity of 23.75%. The firm had revenue of $724.00 million during the quarter, compared to analysts' expectations of $711.66 million. During the same period in the previous year, the company earned $1.53 earnings per share. Louisiana-Pacific's quarterly revenue was up .0% compared to the same quarter last year. Analysts anticipate that Louisiana-Pacific will post 5.27 earnings per share for the current fiscal year.

Insider Transactions at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total value of $105,544.08. Following the transaction, the director now directly owns 18,838 shares in the company, valued at $1,686,377.76. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.42% of the company's stock.

Hedge Funds Weigh In On Louisiana-Pacific

A number of large investors have recently bought and sold shares of LPX. Alyeska Investment Group L.P. increased its stake in shares of Louisiana-Pacific by 1,736.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company's stock worth $92,299,000 after acquiring an additional 842,809 shares during the period. Norges Bank purchased a new stake in Louisiana-Pacific in the 4th quarter valued at approximately $78,181,000. 59 North Capital Management LP increased its position in Louisiana-Pacific by 32.1% during the 1st quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock worth $240,863,000 after purchasing an additional 635,817 shares during the period. Palestra Capital Management LLC increased its position in Louisiana-Pacific by 173.5% during the 1st quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company's stock worth $83,851,000 after purchasing an additional 578,248 shares during the period. Finally, FMR LLC raised its stake in shares of Louisiana-Pacific by 17.1% during the 4th quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company's stock worth $384,031,000 after buying an additional 540,703 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.

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