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Louisiana-Pacific (NYSE:LPX) Trading Down 4.1% on Analyst Downgrade

Thursday, June 23, 2022 | MarketBeat

Louisiana-Pacific Co. (NYSE:LPX - Get Rating) traded down 4.1% on Thursday after The Goldman Sachs Group lowered their price target on the stock from $90.00 to $65.00. The Goldman Sachs Group currently has a neutral rating on the stock. Louisiana-Pacific traded as low as $50.76 and last traded at $51.26. 47,010 shares traded hands during trading, a decline of 97% from the average session volume of 1,358,167 shares. The stock had previously closed at $53.47.

Several other brokerages have also commented on LPX. Bank of America lowered shares of Louisiana-Pacific from a "buy" rating to a "neutral" rating and set a $67.00 price objective on the stock. in a research report on Thursday. TD Securities reduced their price objective on shares of Louisiana-Pacific from $85.00 to $75.00 in a research note on Thursday. DA Davidson reissued a "buy" rating on shares of Louisiana-Pacific in a research note on Wednesday, February 23rd. Finally, StockNews.com initiated coverage on shares of Louisiana-Pacific in a research note on Thursday, March 31st. They issued a "hold" rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $72.25.


In other news, Director Lizanne C. Gottung sold 7,635 shares of the firm's stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $75.02, for a total transaction of $572,777.70. Following the sale, the director now owns 31,522 shares of the company's stock, valued at approximately $2,364,780.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.26% of the company's stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPX. Tudor Investment Corp Et Al raised its position in shares of Louisiana-Pacific by 65.0% during the third quarter. Tudor Investment Corp Et Al now owns 26,170 shares of the building manufacturing company's stock valued at $1,606,000 after buying an additional 10,308 shares during the last quarter. National Asset Management Inc. lifted its position in shares of Louisiana-Pacific by 6.8% during the third quarter. National Asset Management Inc. now owns 14,371 shares of the building manufacturing company's stock worth $882,000 after purchasing an additional 917 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Louisiana-Pacific during the third quarter worth $659,000. Cetera Investment Advisers raised its holdings in shares of Louisiana-Pacific by 3.3% in the third quarter. Cetera Investment Advisers now owns 11,035 shares of the building manufacturing company's stock valued at $677,000 after acquiring an additional 349 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Louisiana-Pacific by 26.2% in the 3rd quarter. Captrust Financial Advisors now owns 9,782 shares of the building manufacturing company's stock worth $600,000 after purchasing an additional 2,031 shares during the period. Institutional investors own 94.99% of the company's stock.

The firm's 50-day moving average price is $66.19 and its two-hundred day moving average price is $68.44. The stock has a market cap of $4.23 billion, a PE ratio of 3.09 and a beta of 1.53. The company has a current ratio of 2.92, a quick ratio of 2.09 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX - Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The building manufacturing company reported $5.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.54 by $0.54. Louisiana-Pacific had a net margin of 31.62% and a return on equity of 105.01%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business posted $3.01 EPS. Louisiana-Pacific's revenue for the quarter was up 31.5% compared to the same quarter last year. On average, analysts anticipate that Louisiana-Pacific Co. will post 14.87 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th were paid a $0.22 dividend. The ex-dividend date was Wednesday, May 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.71%. Louisiana-Pacific's payout ratio is currently 5.31%.

About Louisiana-Pacific (NYSE:LPX)

Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.

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