Louisiana-Pacific (LPX) Stock Rating Lowered by ValuEngine
ValuEngine cut shares of Louisiana-Pacific (NYSE:LPX) from a sell rating to a strong sell rating in a research report report published on Tuesday.
LPX has been the topic of several other reports. Zacks Investment Research cut shares of Louisiana-Pacific from a strong-buy rating to a hold rating in a report on Friday, August 10th. Bank of America upgraded shares of Louisiana-Pacific from a neutral rating to a buy rating and set a $37.00 target price on the stock in a report on Monday, July 16th. Finally, Longbow Research reiterated a hold rating on shares of Louisiana-Pacific in a report on Tuesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $33.25.
Shares of Louisiana-Pacific stock opened at $22.59 on Tuesday. The company has a current ratio of 5.68, a quick ratio of 4.57 and a debt-to-equity ratio of 0.20. Louisiana-Pacific has a 1 year low of $22.48 and a 1 year high of $32.16. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43.
Louisiana-Pacific announced that its board has authorized a share repurchase plan on Tuesday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, CFO Michael Emory Kinney sold 11,815 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $31.05, for a total value of $366,855.75. Following the sale, the chief financial officer now directly owns 32,042 shares in the company, valued at approximately $994,904.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Bradley Southern sold 12,042 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $31.00, for a total transaction of $373,302.00. Following the completion of the sale, the chief executive officer now owns 196,518 shares in the company, valued at $6,092,058. The disclosure for this sale can be found here. Insiders sold a total of 38,287 shares of company stock worth $1,180,736 over the last 90 days. Company insiders own 0.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in LPX. Synovus Financial Corp raised its position in shares of Louisiana-Pacific by 174.8% in the 2nd quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock valued at $127,000 after purchasing an additional 2,972 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Louisiana-Pacific in the 2nd quarter valued at approximately $174,000. Bayesian Capital Management LP purchased a new position in shares of Louisiana-Pacific in the 1st quarter valued at approximately $247,000. NumerixS Investment Technologies Inc raised its position in shares of Louisiana-Pacific by 36.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock valued at $249,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors purchased a new position in shares of Louisiana-Pacific in the 2nd quarter valued at approximately $265,000. Institutional investors and hedge funds own 92.25% of the company’s stock.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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