Louisiana-Pacific (NYSE:LPX – Get Free Report) had its price objective boosted by The Goldman Sachs Group from $66.00 to $74.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sell” rating on the building manufacturing company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 4.30% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on LPX. Zacks Research downgraded shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Bank of America lifted their price objective on Louisiana-Pacific from $85.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group assumed coverage on Louisiana-Pacific in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 target price for the company. Finally, TD increased their price target on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.64.
Read Our Latest Analysis on LPX
Louisiana-Pacific Trading Up 0.7%
Louisiana-Pacific (NYSE:LPX – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). The business had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $667.31 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. As a group, research analysts predict that Louisiana-Pacific will post 1.86 earnings per share for the current year.
Hedge Funds Weigh In On Louisiana-Pacific
Institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners acquired a new stake in Louisiana-Pacific during the 3rd quarter worth $100,770,000. Capital Research Global Investors grew its holdings in shares of Louisiana-Pacific by 306.2% during the fourth quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company’s stock worth $102,848,000 after purchasing an additional 960,000 shares during the last quarter. Eminence Capital LP grew its holdings in shares of Louisiana-Pacific by 29.9% during the fourth quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock worth $326,927,000 after purchasing an additional 932,177 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Louisiana-Pacific during the first quarter worth about $56,596,000. Finally, Norges Bank purchased a new stake in shares of Louisiana-Pacific in the 4th quarter valued at about $60,184,000. Institutional investors and hedge funds own 94.73% of the company’s stock.
About Louisiana-Pacific
Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.
Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.
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