Louisiana-Pacific Co. (NYSE:LPX) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 5,406,929 shares, a decrease of 34.7% from the September 28th total of 8,274,735 shares. Based on an average daily volume of 3,279,993 shares, the days-to-cover ratio is presently 1.6 days. Currently, 3.8% of the company’s shares are sold short.
In related news, Director Lizanne C. Gottung sold 7,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $29.25, for a total value of $204,750.00. Following the completion of the transaction, the director now directly owns 18,115 shares in the company, valued at $529,863.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neil Sherman sold 7,430 shares of the company’s 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 completion of the transaction, the executive vice president now owns 51,708 shares of the company’s stock, valued at $1,641,211.92. The disclosure for this sale can be found here. Insiders sold 38,287 shares of company stock valued at $1,180,736 over the last quarter. Insiders own 1.48% of the company’s stock.
Large investors have recently made changes to their positions in the business. Synovus Financial Corp increased its stake in Louisiana-Pacific by 174.8% during the second quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock worth $127,000 after acquiring an additional 2,972 shares during the last quarter. Willingdon Wealth Management acquired a new stake in Louisiana-Pacific during the third quarter worth about $126,000. First Hawaiian Bank acquired a new stake in Louisiana-Pacific during the third quarter worth about $165,000. TRUE Private Wealth Advisors acquired a new stake in Louisiana-Pacific during the third quarter worth about $168,000. Finally, Cerebellum GP LLC acquired a new stake in Louisiana-Pacific during the second quarter worth about $174,000. Institutional investors own 92.56% of the company’s stock.
Shares of NYSE:LPX opened at $23.18 on Friday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.48 and a beta of 1.43. The company has a quick ratio of 4.57, a current ratio of 5.68 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a 12 month low of $20.89 and a 12 month high of $32.16.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Tuesday, August 7th. The construction company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The company had revenue of $810.80 million during the quarter, compared to analyst estimates of $788.55 million. Louisiana-Pacific had a return on equity of 28.21% and a net margin of 16.85%. Research analysts predict that Louisiana-Pacific will post 2.87 EPS for the current fiscal year.
Louisiana-Pacific announced that its Board of Directors has approved a stock buyback program on Tuesday, August 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to repurchase up to 3.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently commented on the company. Seaport Global Securities assumed coverage on Louisiana-Pacific in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $31.00 target price for the company. ValuEngine lowered Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. BMO Capital Markets upgraded Louisiana-Pacific from an “underperform” rating to a “market perform” rating and dropped their target price for the company from $27.00 to $24.00 in a research note on Monday, October 22nd. They noted that the move was a valuation call. Zacks Investment Research lowered Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Bank of America upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.13.
Louisiana-Pacific Company Profile
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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