DA Davidson Increases Louisiana-Pacific (LPX) Price Target to $33.00
Louisiana-Pacific (NYSE:LPX) had its target price lifted by DA Davidson to $33.00 in a research note published on Wednesday morning, The Fly reports. DA Davidson currently has a neutral rating on the construction company’s stock. DA Davidson also issued estimates for Louisiana-Pacific’s Q4 2018 earnings at $0.38 EPS.
Several other equities research analysts also recently issued reports on the stock. Stephens set a $32.00 price objective on shares of Louisiana-Pacific and gave the stock a hold rating in a research report on Tuesday. BMO Capital Markets set a $25.00 price objective on shares of Louisiana-Pacific and gave the stock a sell rating in a research report on Tuesday. Bank of America upgraded shares of Louisiana-Pacific from an underperform rating to a neutral rating in a research report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Louisiana-Pacific from a hold rating to a buy rating and set a $31.00 price objective for the company in a research report on Tuesday, January 9th. Finally, Vertical Research upgraded shares of Louisiana-Pacific from a hold rating to a buy rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $30.71.
Shares of Louisiana-Pacific (NYSE:LPX) traded down $0.94 during mid-day trading on Wednesday, reaching $29.13. 1,878,699 shares of the company’s stock traded hands, compared to its average volume of 1,799,876. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.03 and a quick ratio of 4.31. The firm has a market capitalization of $4,413.72, a P/E ratio of 11.26, a PEG ratio of 2.93 and a beta of 1.62. Louisiana-Pacific has a 1 year low of $22.07 and a 1 year high of $31.07.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Monday, February 26th will be given a $0.13 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Louisiana-Pacific by 12.4% in the third quarter. Bank of New York Mellon Corp now owns 3,412,507 shares of the construction company’s stock valued at $92,410,000 after buying an additional 375,243 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in Louisiana-Pacific during the third quarter valued at approximately $271,000. Macquarie Group Ltd. acquired a new position in Louisiana-Pacific during the third quarter valued at approximately $265,000. Vident Investment Advisory LLC acquired a new position in Louisiana-Pacific during the third quarter valued at approximately $2,760,000. Finally, Acadian Asset Management LLC raised its position in Louisiana-Pacific by 117.3% during the fourth quarter. Acadian Asset Management LLC now owns 1,775,627 shares of the construction company’s stock valued at $46,625,000 after purchasing an additional 958,649 shares in the last quarter. Institutional investors own 92.31% of the company’s stock.
Louisiana-Pacific Company Profile
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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