Zacks Investment Research upgraded shares of Louisiana-Pacific Corporation (NYSE:LPX) from a hold rating to a strong-buy rating in a report released on Wednesday morning. They currently have $33.00 price target on the construction company’s stock.
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. “
Several other brokerages have also recently weighed in on LPX. Royal Bank Of Canada boosted their price objective on Louisiana-Pacific Corporation and gave the stock an outperform rating in a report on Tuesday, September 26th. BMO Capital Markets cut Louisiana-Pacific Corporation from a market perform rating to an underperform rating and upped their price target for the company from $22.00 to $24.00 in a research note on Friday, September 29th. They noted that the move was a valuation call. Longbow Research reaffirmed a neutral rating on shares of Louisiana-Pacific Corporation in a research note on Tuesday, October 10th. Finally, BidaskClub raised Louisiana-Pacific Corporation from a hold rating to a buy rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Louisiana-Pacific Corporation currently has an average rating of Hold and an average price target of $29.60.
Shares of Louisiana-Pacific Corporation (LPX) traded down 0.76% during trading on Wednesday, hitting $27.49. 508,625 shares of the stock traded hands. Louisiana-Pacific Corporation has a 1-year low of $17.08 and a 1-year high of $29.44. The company has a market cap of $3.98 billion, a PE ratio of 15.65 and a beta of 1.31. The company has a 50 day moving average of $27.50 and a 200-day moving average of $25.21.
Louisiana-Pacific Corporation (NYSE:LPX) last announced 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). The firm had revenue of $694.00 million for the quarter, compared to the consensus estimate of $700.73 million. Louisiana-Pacific Corporation had a return on equity of 17.13% and a net margin of 10.50%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, equities analysts anticipate that Louisiana-Pacific Corporation will post $2.15 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/19/louisiana-pacific-corporation-lpx-upgraded-to-strong-buy-at-zacks-investment-research.html.
In related news, SVP Michael Sims sold 5,871 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $27.06, for a total transaction of $158,869.26. Following the completion of the sale, the senior vice president now directly owns 41,523 shares of the company’s stock, valued at approximately $1,123,612.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rebecca Anne Barckley sold 5,128 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $27.00, for a total value of $138,456.00. Following the sale, the insider now directly owns 7,305 shares of the company’s stock, valued at $197,235. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Preferred LLC increased its stake in Louisiana-Pacific Corporation by 2,723.0% during the 2nd quarter. Advisors Preferred LLC now owns 4,291 shares of the construction company’s stock worth $103,000 after purchasing an additional 4,139 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Louisiana-Pacific Corporation by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the construction company’s stock worth $137,000 after purchasing an additional 539 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Louisiana-Pacific Corporation by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,798 shares of the construction company’s stock worth $140,000 after purchasing an additional 56 shares in the last quarter. US Bancorp DE increased its stake in Louisiana-Pacific Corporation by 6.9% during the 2nd quarter. US Bancorp DE now owns 6,169 shares of the construction company’s stock worth $149,000 after purchasing an additional 400 shares in the last quarter. Finally, Flinton Capital Management LLC increased its stake in Louisiana-Pacific Corporation by 76.1% during the 2nd quarter. Flinton Capital Management LLC now owns 7,296 shares of the construction company’s stock worth $176,000 after purchasing an additional 3,152 shares in the last quarter. 91.13% 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.
Receive News & Ratings for Louisiana-Pacific Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific Corporation and related companies with MarketBeat.com's FREE daily email newsletter.