Louisiana-Pacific (NYSE:LPX) Given New $108.00 Price Target at Truist Financial

Louisiana-Pacific (NYSE:LPX - Get Free Report) had its target price cut by research analysts at Truist Financial from $111.00 to $108.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the building manufacturing company's stock. Truist Financial's price target would suggest a potential upside of 16.29% from the company's current price.

A number of other brokerages have also commented on LPX. DA Davidson cut their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada upped their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research 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 company's stock. According to MarketBeat.com, Louisiana-Pacific currently has an average rating of "Hold" and an average price target of $106.13.

Louisiana-Pacific Stock Down 3.7%

Shares of LPX stock traded down $3.61 on Friday, hitting $92.87. The company's stock had a trading volume of 528,933 shares, compared to its average volume of 694,252. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.03 and a quick ratio of 1.59. Louisiana-Pacific has a fifty-two week low of $78.82 and a fifty-two week high of $122.87. The firm's fifty day moving average price is $90.65 and its 200-day moving average price is $96.49. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 1.50 and a beta of 1.84.

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

Insiders Place Their Bets

In related news, Director Lizanne C. Gottung sold 1,179 shares of the stock in a transaction that occurred 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 directly owned 18,838 shares in the company, valued at $1,686,377.76. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Several large investors have recently bought and sold shares of LPX. Alyeska Investment Group L.P. increased its position 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 in the last quarter. Norges Bank acquired a new stake in Louisiana-Pacific in the 4th quarter valued at $78,181,000. 59 North Capital Management LP increased its stake in Louisiana-Pacific by 32.1% in the 1st quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock valued at $240,863,000 after buying an additional 635,817 shares during the last quarter. Palestra Capital Management LLC increased its stake in Louisiana-Pacific by 173.5% in the 1st quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company's stock valued at $83,851,000 after buying an additional 578,248 shares during the last quarter. Finally, FMR LLC increased its stake in Louisiana-Pacific by 17.1% in the 4th quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company's stock valued at $384,031,000 after buying an additional 540,703 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.