Louisiana-Pacific (NYSE:LPX) Lowered to Underperform at Bank of America

Bank of America downgraded shares of Louisiana-Pacific (NYSE:LPXGet Rating) from a neutral rating to an underperform rating in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have $56.00 target price on the building manufacturing company’s stock, down from their previous target price of $64.00.

A number of other analysts also recently commented on the stock. DA Davidson boosted their price objective on shares of Louisiana-Pacific to $70.00 in a report on Monday, August 15th. The Goldman Sachs Group decreased their price objective on shares of Louisiana-Pacific from $90.00 to $65.00 and set a neutral rating for the company in a research note on Thursday, June 23rd. TD Securities decreased their price objective on shares of Louisiana-Pacific from $80.00 to $75.00 and set a buy rating for the company in a research note on Wednesday, August 10th. Finally, Truist Financial initiated coverage on shares of Louisiana-Pacific in a research note on Wednesday, June 29th. They set a hold rating and a $57.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Louisiana-Pacific presently has an average rating of Hold and a consensus target price of $67.50.

Louisiana-Pacific Price Performance

NYSE LPX opened at $52.44 on Tuesday. The firm’s fifty day simple moving average is $57.90 and its two-hundred day simple moving average is $61.83. The company has a current ratio of 2.60, a quick ratio of 1.94 and a debt-to-equity ratio of 0.23. Louisiana-Pacific has a 12-month low of $49.98 and a 12-month high of $79.77. The firm has a market capitalization of $3.87 billion, a P/E ratio of 3.20 and a beta of 1.68.

Louisiana-Pacific (NYSE:LPXGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The building manufacturing company reported $4.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.38 by ($0.19). Louisiana-Pacific had a net margin of 30.50% and a return on equity of 94.18%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted $4.74 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. Analysts forecast that Louisiana-Pacific will post 12.99 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, August 17th. Louisiana-Pacific’s dividend payout ratio is currently 5.37%.

Institutional Trading of Louisiana-Pacific

Several large investors have recently modified their holdings of LPX. Verition Fund Management LLC lifted its stake in Louisiana-Pacific by 212.6% in the second quarter. Verition Fund Management LLC now owns 302,903 shares of the building manufacturing company’s stock valued at $15,875,000 after buying an additional 206,008 shares during the period. Captrust Financial Advisors grew its holdings in Louisiana-Pacific by 4.4% during the second quarter. Captrust Financial Advisors now owns 9,415 shares of the building manufacturing company’s stock worth $493,000 after buying an additional 395 shares in the last quarter. CNB Bank bought a new position in Louisiana-Pacific in the 2nd quarter valued at $66,000. Atlas Capital Advisors LLC purchased a new position in shares of Louisiana-Pacific during the 2nd quarter valued at $42,000. Finally, Neo Ivy Capital Management purchased a new stake in Louisiana-Pacific during the 2nd quarter worth about $120,000. 91.07% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Company Profile

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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.

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Analyst Recommendations for Louisiana-Pacific (NYSE:LPX)

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