Louisiana-Pacific (NYSE:LPX) Given New $104.00 Price Target at Royal Bank Of Canada

Louisiana-Pacific (NYSE:LPX) had its target price trimmed by Royal Bank Of Canada from $114.00 to $104.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the building manufacturing company’s stock.

Other research analysts have also recently issued reports about the company. Vertical Research began coverage on Louisiana-Pacific in a report on Monday, October 20th. They set a “buy” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Louisiana-Pacific in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Truist Financial decreased their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. Finally, DA Davidson reaffirmed a “buy” rating and set a $117.00 price objective on shares of Louisiana-Pacific in a report on Thursday, September 25th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $106.33.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX traded up $1.29 during midday trading on Thursday, reaching $78.51. 1,233,782 shares of the company’s stock were exchanged, compared to its average volume of 769,304. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. The company’s 50 day simple moving average is $90.09 and its two-hundred day simple moving average is $90.72. Louisiana-Pacific has a 12 month low of $76.25 and a 12 month high of $122.87. The firm has a market capitalization of $5.47 billion, a PE ratio of 18.52 and a beta of 1.80.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $670.26 million. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the company earned $1.22 EPS. Equities research analysts expect that Louisiana-Pacific will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 14th. Louisiana-Pacific’s payout ratio is 26.42%.

Insider Activity at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the sale, the director directly owned 29,728 shares of the company’s stock, valued at approximately $3,002,528. The trade was a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC raised its holdings in shares of Louisiana-Pacific by 33,243.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,588,787 shares of the building manufacturing company’s stock valued at $222,610,000 after purchasing an additional 2,581,023 shares during the period. Eminence Capital LP increased its position in Louisiana-Pacific by 72.3% during the second quarter. Eminence Capital LP now owns 2,887,438 shares of the building manufacturing company’s stock worth $248,291,000 after buying an additional 1,211,495 shares during the last quarter. Norges Bank bought a new stake in Louisiana-Pacific in the second quarter valued at approximately $72,299,000. 59 North Capital Management LP lifted its position in shares of Louisiana-Pacific by 32.1% in the first quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company’s stock valued at $240,863,000 after buying an additional 635,817 shares during the last quarter. Finally, Palestra Capital Management LLC boosted its stake in shares of Louisiana-Pacific by 173.5% during the 1st quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company’s stock worth $83,851,000 after acquiring an additional 578,248 shares during the period. 94.73% of the stock is owned by institutional investors.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.