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

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.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Louisiana-Pacific right now?

Before you consider Louisiana-Pacific, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on … and Louisiana-Pacific wasn’t on the list.

While Louisiana-Pacific currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here


Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker