Louisiana-Pacific (LPX) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Louisiana-Pacific (NYSE:LPX) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $31.00 price objective 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. “

LPX has been the topic of several other research reports. Vertical Research upgraded Louisiana-Pacific from a hold rating to a buy rating in a research note on Monday, November 6th. Royal Bank of Canada restated a buy rating and issued a $37.00 target price on shares of Louisiana-Pacific in a research note on Monday, October 30th. BMO Capital Markets cut Louisiana-Pacific from a market perform rating to an underperform rating and boosted their target price 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. Stephens began coverage on Louisiana-Pacific in a research note on Tuesday, October 24th. They issued an equal weight rating and a $30.00 target price on the stock. Finally, Longbow Research restated a neutral rating on shares of Louisiana-Pacific in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Louisiana-Pacific currently has a consensus rating of Hold and an average target price of $29.50.

Louisiana-Pacific (NYSE:LPX) traded up $0.15 during midday trading on Tuesday, reaching $28.30. The company’s stock had a trading volume of 1,039,787 shares, compared to its average volume of 1,395,800. The company has a market cap of $4,080.00, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.25 and a quick ratio of 4.31. Louisiana-Pacific has a 12-month low of $18.69 and a 12-month high of $29.44.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Monday, November 6th. The construction company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). The firm had revenue of $718.30 million during the quarter, compared to the consensus estimate of $731.47 million. Louisiana-Pacific had a net margin of 11.72% and a return on equity of 20.27%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. sell-side analysts forecast that Louisiana-Pacific will post 2.21 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of LPX. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Louisiana-Pacific 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 during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Louisiana-Pacific 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 during the last quarter. Flinton Capital Management LLC increased its position in shares of Louisiana-Pacific 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 during the last quarter. Riverhead Capital Management LLC increased its position in shares of Louisiana-Pacific by 78.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,187 shares of the construction company’s stock worth $197,000 after purchasing an additional 3,587 shares during the last quarter. Finally, Greenwood Capital Associates LLC acquired a new position in shares of Louisiana-Pacific during the 3rd quarter worth approximately $202,000. 93.08% of the stock is currently owned by hedge funds and other institutional investors.

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About Louisiana-Pacific

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.

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