Equities researchers at Seaport Global Securities initiated coverage on shares of Louisiana-Pacific (NYSE:LPX) in a research report issued on Thursday. The firm set a “buy” rating and a $37.00 price target on the construction company’s stock. Seaport Global Securities’ price target points to a potential upside of 24.75% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Tuesday, January 9th. Stephens set a $31.00 target price on Louisiana-Pacific and gave the company a “hold” rating in a report on Wednesday, January 10th. Bank of America upgraded Louisiana-Pacific from an “underperform” rating to a “neutral” rating in a report on Wednesday, January 24th. DA Davidson increased their price objective on Louisiana-Pacific to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Scotiabank increased their price objective on Louisiana-Pacific from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.50.
Shares of Louisiana-Pacific (LPX) opened at $29.66 on Thursday. The firm has a market capitalization of $4,135.42, a PE ratio of 11.11, a P/E/G ratio of 2.15 and a beta of 1.58. Louisiana-Pacific has a fifty-two week low of $22.07 and a fifty-two week high of $31.07. The company has a current ratio of 5.03, a quick ratio of 4.07 and a debt-to-equity ratio of 0.22.
In other news, EVP Neil Sherman sold 18,885 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $30.04, for a total value of $567,305.40. Following the completion of the transaction, the executive vice president now owns 62,770 shares in the company, valued at approximately $1,885,610.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary Cook sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $28.58, for a total value of $142,900.00. Following the completion of the transaction, the director now owns 50,026 shares of the company’s stock, valued at approximately $1,429,743.08. The disclosure for this sale can be found here. Company insiders own 1.48% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LPX. Public Employees Retirement System of Ohio lifted its stake in shares of Louisiana-Pacific by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,798 shares of the construction company’s stock valued at $140,000 after purchasing an additional 56 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Louisiana-Pacific by 9.5% in the 3rd quarter. Nationwide Fund Advisors now owns 429,228 shares of the construction company’s stock valued at $11,623,000 after purchasing an additional 37,160 shares during the period. First Trust Advisors LP lifted its stake in shares of Louisiana-Pacific by 25.5% in the 3rd quarter. First Trust Advisors LP now owns 126,157 shares of the construction company’s stock valued at $3,416,000 after purchasing an additional 25,623 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Louisiana-Pacific in the 3rd quarter valued at approximately $673,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Louisiana-Pacific in the 3rd quarter valued at approximately $292,000. Institutional investors own 94.74% of the company’s stock.
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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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