Zacks Investment Research cut shares of Louisiana-Pacific Corporation (NYSE:LPX) from a strong-buy rating to a hold rating in a research report sent to investors on Friday, July 21st.
According to Zacks, “Louisiana-Pacific Corporation manufactures building materials and engineered wood products in the United States, Canada, Chile and Brazil. The Company’s products are used by homebuilders and light commercial builders. Louisiana-Pacific’s products include oriented strand board sheathing, flooring, radiant barrier panels, siding and trim, I-joists, laminated veneer lumber, laminated strand lumber and interior decorative moulding. “
LPX has been the subject of several other research reports. TD Securities restated a hold rating on shares of Louisiana-Pacific Corporation in a research report on Tuesday, May 9th. Royal Bank Of Canada restated a buy rating and set a $26.00 price objective on shares of Louisiana-Pacific Corporation in a research report on Tuesday, April 18th. BidaskClub upgraded shares of Louisiana-Pacific Corporation from a hold rating to a buy rating in a report on Thursday, July 13th. Buckingham Research cut shares of Louisiana-Pacific Corporation from a buy rating to a neutral rating and set a $27.00 target price for the company. in a report on Wednesday, April 12th. They noted that the move was a valuation call. Finally, DA Davidson cut shares of Louisiana-Pacific Corporation from a buy rating to a neutral rating in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $27.00.
Louisiana-Pacific Corporation (NYSE:LPX) opened at 24.08 on Friday. The firm’s 50-day moving average is $24.70 and its 200-day moving average is $23.94. The firm has a market cap of $3.49 billion, a PE ratio of 13.71 and a beta of 1.34. Louisiana-Pacific Corporation has a 12 month low of $17.08 and a 12 month high of $26.93.
Louisiana-Pacific Corporation (NYSE:LPX) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Louisiana-Pacific Corporation had a net margin of 10.50% and a return on equity of 17.13%. The business had revenue of $694 million for the quarter, compared to the consensus estimate of $700.73 million. During the same quarter last year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. Equities analysts expect that Louisiana-Pacific Corporation will post $1.90 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Louisiana-Pacific Corporation by 24,793.7% in the first quarter. BlackRock Inc. now owns 16,481,360 shares of the construction company’s stock worth $409,068,000 after buying an additional 16,415,153 shares during the period. Iridian Asset Management LLC CT bought a new stake in Louisiana-Pacific Corporation during the first quarter worth about $70,106,000. Vanguard Group Inc. raised its stake in Louisiana-Pacific Corporation by 16.2% in the first quarter. Vanguard Group Inc. now owns 13,197,882 shares of the construction company’s stock worth $327,572,000 after buying an additional 1,835,706 shares during the period. AJO LP bought a new stake in Louisiana-Pacific Corporation during the second quarter worth about $43,821,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Louisiana-Pacific Corporation during the first quarter worth about $28,202,000. 94.99% of the stock is owned by institutional investors and hedge funds.
About Louisiana-Pacific Corporation
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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