Bank of America downgraded shares of Louisiana-Pacific (NYSE:LPX – Get Rating) from a neutral rating to an underperform rating in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $56.00 price target on the building manufacturing company's stock, down from their previous price target of $64.00.
Other research analysts also recently issued reports about the stock. TD Securities cut their price target on shares of Louisiana-Pacific from $80.00 to $75.00 and set a buy rating for the company in a report on Wednesday, August 10th. The Goldman Sachs Group dropped their price objective on shares of Louisiana-Pacific from $90.00 to $65.00 and set a neutral rating for the company in a report on Thursday, June 23rd. DA Davidson lifted their price objective on shares of Louisiana-Pacific to $70.00 in a report on Monday, August 15th. Finally, Truist Financial initiated coverage on shares of Louisiana-Pacific in a report on Wednesday, June 29th. They set a hold rating and a $57.00 price objective for the company. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $67.50.
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Louisiana-Pacific Price Performance
Shares of NYSE LPX opened at $50.92 on Tuesday. Louisiana-Pacific has a fifty-two week low of $49.98 and a fifty-two week high of $79.77. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 3.10 and a beta of 1.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.94 and a current ratio of 2.60. The firm's 50-day simple moving average is $57.68 and its 200 day simple moving average is $61.68.
Louisiana-Pacific (NYSE:LPX – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The building manufacturing company reported $4.19 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 firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter last year, the business posted $4.74 EPS. The company's quarterly revenue was down 3.3% on a year-over-year basis. As a group, research analysts anticipate that Louisiana-Pacific will post 12.8 earnings per share for the current fiscal year.
Louisiana-Pacific Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.73%. The ex-dividend date was Wednesday, August 17th. Louisiana-Pacific's dividend payout ratio is presently 5.37%.
Hedge Funds Weigh In On Louisiana-Pacific
Hedge funds have recently modified their holdings of the company. Zions Bancorporation N.A. purchased a new position in shares of Louisiana-Pacific during the first quarter valued at about $25,000. Financial Management Professionals Inc. increased its position in shares of Louisiana-Pacific by 2,900.0% during the second quarter. Financial Management Professionals Inc. now owns 480 shares of the building manufacturing company's stock valued at $25,000 after buying an additional 464 shares during the period. Rather & Kittrell Inc. purchased a new position in shares of Louisiana-Pacific during the fourth quarter valued at about $43,000. TCI Wealth Advisors Inc. purchased a new position in shares of Louisiana-Pacific during the first quarter valued at about $39,000. Finally, Ahrens Investment Partners LLC purchased a new position in shares of Louisiana-Pacific during the first quarter valued at about $40,000. Hedge funds and other institutional investors own 91.07% of the company's stock.
About Louisiana-Pacific
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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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