Bank of America downgraded shares of Louisiana-Pacific (NYSE:LPX – Get 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 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
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.
- Get a free copy of the StockNews.com research report on Louisiana-Pacific (LPX)
- 3 Airline Stocks Stuck in a Holding Pattern
- Roku Stock is Down but Not Out
- Is Ford Rolling To A Rebound After Its Q3 Warning
- If You’re Hungry for Value, Take a Bite on Ruth’s Hospitality Grp
- Has AMD stock stock fallen too far?
Receive News & Ratings for Louisiana-Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific and related companies with MarketBeat.com's FREE daily email newsletter.