StockNews.com Begins Coverage on Louisiana-Pacific (NYSE:LPX)

StockNews.com assumed coverage on shares of Louisiana-Pacific (NYSE:LPX – Get Rating) in a research note published on Thursday. The firm issued a hold rating on the building manufacturing company’s stock.

Several other research firms have also issued reports on LPX. DA Davidson lowered Louisiana-Pacific from a buy rating to a neutral rating and cut their price target for the company from $69.00 to $63.00 in a report on Thursday, January 12th. TD Securities cut their price target on Louisiana-Pacific from $72.00 to $65.00 and set a hold rating for the company in a report on Wednesday, February 22nd. Finally, Truist Financial cut their price target on Louisiana-Pacific from $49.00 to $47.00 and set a hold rating for the company in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $59.20.

Louisiana-Pacific Stock Down 2.3 %

Louisiana-Pacific stock opened at $54.38 on Thursday. The stock has a fifty day moving average of $62.56 and a 200 day moving average of $59.29. Louisiana-Pacific has a one year low of $48.20 and a one year high of $78.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.54 and a current ratio of 2.54. The stock has a market cap of $3.92 billion, a PE ratio of 4.10 and a beta of 1.65.

Louisiana-Pacific (NYSE:LPX – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The building manufacturing company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. Louisiana-Pacific had a return on equity of 64.50% and a net margin of 26.99%. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $695.37 million. During the same quarter in the previous year, the company posted $2.24 earnings per share. Louisiana-Pacific’s revenue for the quarter was down 15.6% on a year-over-year basis. As a group, sell-side analysts predict that Louisiana-Pacific will post 2.59 EPS for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be paid a $0.24 dividend. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, March 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.77%. Louisiana-Pacific’s dividend payout ratio is 7.23%.

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds have recently made changes to their positions in LPX. Zions Bancorporation N.A. bought a new position in shares of Louisiana-Pacific in the first quarter worth about $25,000. Denali Advisors LLC boosted its stake in Louisiana-Pacific by 146.9% during the fourth quarter. Denali Advisors LLC now owns 516 shares of the building manufacturing company’s stock valued at $31,000 after buying an additional 307 shares during the last quarter. Sargent Bickham Lagudis LLC bought a new position in Louisiana-Pacific during the fourth quarter valued at approximately $40,000. Belpointe Asset Management LLC bought a new position in Louisiana-Pacific during the fourth quarter valued at approximately $40,000. Finally, Atlas Capital Advisors LLC bought a new position in Louisiana-Pacific during the second quarter valued at approximately $42,000. Institutional investors own 99.23% of the company’s stock.

About Louisiana-Pacific

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Louisiana-Pacific Corp. engages in the provision of building solutions. It operates through the following segments: Siding, Oriented Strand Board (OSB), South America, and Other. The Siding segment offers engineered wood siding under the brands of LP, SmartSide, Trim and Siding LP, SmartSide, ExpertFinish, Trim and Siding, LP BuilderSeries, Lap Siding, and Outdoor Building Solutions.