Truist Financial Lowers Louisiana-Pacific (NYSE:LPX) Price Target to $108.00

Louisiana-Pacific (NYSE:LPX - Get Free Report) had its price objective reduced by investment analysts at Truist Financial from $111.00 to $108.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the building manufacturing company's stock. Truist Financial's price objective points to a potential upside of 18.66% from the company's previous close.

Several other analysts also recently issued reports on LPX. DA Davidson cut their price target on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Loop Capital raised Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada raised their price target on Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Louisiana-Pacific currently has an average rating of "Hold" and a consensus price target of $106.13.

Louisiana-Pacific Stock Performance

NYSE:LPX traded down $1.90 during trading hours on Friday, reaching $91.01. 428,154 shares of the stock were exchanged, compared to its average volume of 692,213. The company has a quick ratio of 1.59, a current ratio of 3.03 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $90.65 and a 200-day simple moving average of $96.38. Louisiana-Pacific has a 52 week low of $78.82 and a 52 week high of $122.87. The stock has a market capitalization of $6.33 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.48 and a beta of 1.84.

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 (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.14. The business had revenue of $724.00 million for the quarter, compared to the consensus estimate of $711.66 million. Louisiana-Pacific had a return on equity of 23.75% and a net margin of 13.74%. The business's revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. As a group, sell-side analysts forecast that Louisiana-Pacific will post 5.27 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds have recently modified their holdings of LPX. Vanguard Group Inc. grew its holdings in shares of Louisiana-Pacific by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 7,087,989 shares of the building manufacturing company's stock valued at $733,961,000 after buying an additional 132,891 shares in the last quarter. FMR LLC lifted its position in shares of Louisiana-Pacific by 17.1% in the fourth 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 during the last quarter. 59 North Capital Management LP lifted its position in shares of Louisiana-Pacific by 32.1% in the first quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock worth $240,863,000 after buying an additional 635,817 shares during the last quarter. Eminence Capital LP lifted its position in shares of Louisiana-Pacific by 16.0% in the first quarter. Eminence Capital LP now owns 1,675,943 shares of the building manufacturing company's stock worth $154,153,000 after buying an additional 230,837 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Louisiana-Pacific by 2.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,266,145 shares of the building manufacturing company's stock worth $131,109,000 after buying an additional 24,285 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.