ValuEngine lowered shares of Louisiana-Pacific (NYSE:LPX) from a sell rating to a strong sell rating in a research report report published on Tuesday.
A number of other research firms also recently issued reports on LPX. Longbow Research reaffirmed a hold rating on shares of Louisiana-Pacific in a research note on Tuesday. Zacks Investment Research raised shares of Louisiana-Pacific from a hold rating to a buy rating and set a $31.00 price target on the stock in a research note on Monday, July 9th. Finally, Bank of America raised shares of Louisiana-Pacific from a neutral rating to a buy rating and set a $37.00 price target on the stock in a research note on Monday, July 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $33.25.
Louisiana-Pacific stock opened at $22.59 on Tuesday. The firm has a market cap of $3.78 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43. The company has a current ratio of 5.68, a quick ratio of 4.57 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a 52-week low of $22.48 and a 52-week high of $32.16.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.10. The company had revenue of $810.80 million for the quarter, compared to the consensus estimate of $788.55 million. Louisiana-Pacific had a net margin of 16.85% and a return on equity of 28.21%. On average, equities research analysts predict that Louisiana-Pacific will post 3.1 earnings per share for the current fiscal year.
Louisiana-Pacific announced that its Board of Directors has authorized a stock buyback plan on Tuesday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, EVP Neil Sherman sold 7,430 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total value of $235,828.20. Following the sale, the executive vice president now owns 51,708 shares of the company’s stock, valued at $1,641,211.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 7,000 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $29.25, for a total transaction of $204,750.00. Following the completion of the sale, the director now directly owns 18,115 shares in the company, valued at approximately $529,863.75. The disclosure for this sale can be found here. In the last three months, insiders sold 38,287 shares of company stock worth $1,180,736. Insiders own 0.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vident Investment Advisory LLC raised its stake in shares of Louisiana-Pacific by 1.5% in the second quarter. Vident Investment Advisory LLC now owns 115,040 shares of the construction company’s stock valued at $3,131,000 after acquiring an additional 1,725 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Louisiana-Pacific by 3.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 56,305 shares of the construction company’s stock worth $1,533,000 after purchasing an additional 1,997 shares during the last quarter. Alpha Windward LLC grew its holdings in shares of Louisiana-Pacific by 11.9% in the second quarter. Alpha Windward LLC now owns 19,133 shares of the construction company’s stock worth $521,000 after purchasing an additional 2,033 shares during the last quarter. Zacks Investment Management grew its holdings in shares of Louisiana-Pacific by 2.9% in the second quarter. Zacks Investment Management now owns 81,194 shares of the construction company’s stock worth $2,210,000 after purchasing an additional 2,302 shares during the last quarter. Finally, NumerixS Investment Technologies Inc grew its holdings in shares of Louisiana-Pacific by 36.0% in the second quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock worth $249,000 after purchasing an additional 2,450 shares during the last quarter. 92.25% of the stock is currently owned by institutional investors and hedge funds.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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