Louisiana-Pacific (NYSE:LPX) Receives Buy Rating from DA Davidson

Key Points

• DA Davidson has reissued a "buy" rating for Louisiana-Pacific (NYSE:LPX), with a price target of $117.00, indicating a potential upside of 41.66% from its previous close.
• The company's stock has faced mixed analyst opinions, with one analyst downgrading it from "hold" to "sell," while the average rating remains "hold" with a target price of $110.57.
• In its most recent earnings report, Louisiana-Pacific posted $0.99 EPS, exceeding estimates, but its revenue declined 7.2% compared to the same quarter last year.

Louisiana-Pacific (NYSE:LPX - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at DA Davidson in a report issued on Thursday,Benzinga reports. They currently have a $117.00 price target on the building manufacturing company's stock. DA Davidson's price target points to a potential upside of 41.66% from the company's previous close.

A number of other equities analysts have also recently issued reports on LPX. Wall Street Zen cut Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Truist Financial lowered their target price on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $110.57.

Louisiana-Pacific Price Performance

Shares of LPX traded down $0.80 during midday trading on Thursday, hitting $82.59. The company's stock had a trading volume of 28,103 shares, compared to its average volume of 749,480. The company's fifty day simple moving average is $93.22 and its two-hundred day simple moving average is $90.88. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.84. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a one year low of $78.82 and a one year high of $122.87.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.02. The business had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. As a group, equities analysts expect that Louisiana-Pacific will post 5.27 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the transaction, the director directly owned 29,728 shares of the company's stock, valued at approximately $3,002,528. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Louisiana-Pacific by 18.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 136,939 shares of the building manufacturing company's stock worth $12,486,000 after acquiring an additional 21,462 shares during the last quarter. CCM Investment Group LLC bought a new position in shares of Louisiana-Pacific during the first quarter valued at about $633,000. Sierra Summit Advisors LLC purchased a new stake in Louisiana-Pacific during the 1st quarter valued at $511,000. Prudential PLC grew its position in shares of Louisiana-Pacific by 27.2% in the 1st quarter. Prudential PLC now owns 44,829 shares of the building manufacturing company's stock worth $4,123,000 after buying an additional 9,581 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Louisiana-Pacific by 1.4% during the first quarter. American Century Companies Inc. now owns 525,686 shares of the building manufacturing company's stock valued at $48,353,000 after acquiring an additional 7,381 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

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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