LPX has been the topic of several other reports. Bank of America raised Louisiana-Pacific from a neutral rating to a buy rating and set a $37.00 target price on the stock in a report on Monday, July 16th. Zacks Investment Research raised Louisiana-Pacific from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Monday, July 9th. Finally, ValuEngine downgraded Louisiana-Pacific from a hold rating to a sell rating in a report on Wednesday, September 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $33.25.
Shares of LPX opened at $22.59 on Tuesday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 1.71 and a beta of 1.43. Louisiana-Pacific has a 12 month low of $22.48 and a 12 month high of $32.16. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.57 and a current ratio of 5.68.
Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Tuesday, August 7th. The construction company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The firm had revenue of $810.80 million for the quarter, compared to the consensus estimate of $788.55 million. Louisiana-Pacific had a return on equity of 28.21% and a net margin of 16.85%. On average, equities research analysts forecast that Louisiana-Pacific will post 3.1 EPS for the current year.
Louisiana-Pacific declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 7th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO William Bradley Southern sold 12,042 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $31.00, for a total value of $373,302.00. Following the transaction, the chief executive officer now directly owns 196,518 shares of the company’s stock, valued at approximately $6,092,058. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Neil Sherman sold 7,430 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total value of $235,828.20. Following the completion of the transaction, the executive vice president now directly owns 51,708 shares in the company, valued at $1,641,211.92. The disclosure for this sale can be found here. Insiders sold a total of 38,287 shares of company stock worth $1,180,736 over the last three months. 0.50% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the company. Synovus Financial Corp increased its position in Louisiana-Pacific by 174.8% in the 2nd quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock valued at $127,000 after buying an additional 2,972 shares in the last quarter. Cerebellum GP LLC bought a new stake in Louisiana-Pacific in the 2nd quarter valued at about $174,000. Bayesian Capital Management LP bought a new stake in Louisiana-Pacific in the 1st quarter valued at about $247,000. NumerixS Investment Technologies Inc increased its position in Louisiana-Pacific by 36.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock valued at $249,000 after buying an additional 2,450 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors bought a new stake in Louisiana-Pacific in the 2nd quarter valued at about $265,000. 92.25% of the stock is currently owned by institutional investors.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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