Louisiana-Pacific (NYSE:LPX) Given New $123.00 Price Target at DA Davidson

Louisiana-Pacific (NYSE:LPX) had its target price reduced by DA Davidson from $125.00 to $123.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the building manufacturing company’s stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Truist Financial boosted their price objective on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com cut Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, TD Securities boosted their price target on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $108.00.

Louisiana-Pacific Trading Down 0.5 %

NYSE:LPX opened at $100.98 on Thursday. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.23 and a beta of 1.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.86. Louisiana-Pacific has a 1 year low of $66.77 and a 1 year high of $122.87. The business has a fifty day moving average of $110.52 and a 200-day moving average of $106.44.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.24. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The firm had revenue of $681.00 million during the quarter, compared to analyst estimates of $666.75 million. During the same quarter in the prior year, the firm posted $0.71 EPS. Louisiana-Pacific’s revenue was up 3.5% compared to the same quarter last year. Equities analysts predict that Louisiana-Pacific will post 5.37 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.11%. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 17.69%.

Insiders Place Their Bets

In other news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $113.50, for a total value of $283,750.00. Following the transaction, the director now directly owns 18,513 shares of the company’s stock, valued at $2,101,225.50. This trade represents a 11.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Louisiana-Pacific by 36.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,045 shares of the building manufacturing company’s stock valued at $2,261,000 after purchasing an additional 5,645 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Louisiana-Pacific by 269.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 41,698 shares of the building manufacturing company’s stock valued at $4,318,000 after buying an additional 30,418 shares during the period. Empowered Funds LLC lifted its stake in Louisiana-Pacific by 238.1% in the 3rd quarter. Empowered Funds LLC now owns 19,881 shares of the building manufacturing company’s stock worth $2,136,000 after acquiring an additional 14,001 shares in the last quarter. Symphony Financial Ltd. Co. acquired a new stake in Louisiana-Pacific during the 4th quarter worth about $259,000. Finally, Ritholtz Wealth Management grew its stake in Louisiana-Pacific by 65.0% during the 4th quarter. Ritholtz Wealth Management now owns 7,381 shares of the building manufacturing company’s stock valued at $764,000 after acquiring an additional 2,907 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.