Louisiana-Pacific Co. (NYSE:LPX) – Equities researchers at DA Davidson upped their Q2 2017 EPS estimates for shares of Louisiana-Pacific in a research note issued on Monday. DA Davidson analyst S. Chercover now forecasts that the construction company will post earnings of $0.56 per share for the quarter, up from their previous forecast of $0.42. DA Davidson has a “Neutral” rating on the stock. DA Davidson also issued estimates for Louisiana-Pacific’s FY2017 earnings at $1.70 EPS.
Several other brokerages have also weighed in on LPX. Buckingham Research lowered shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a report on Wednesday, April 12th. They noted that the move was a valuation call. Vertical Research lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Royal Bank of Canada reissued a “buy” rating and set a $26.00 price objective on shares of Louisiana-Pacific in a report on Tuesday, April 18th. TD Securities reissued a “hold” rating on shares of Louisiana-Pacific in a report on Tuesday. Finally, Zacks Investment Research downgraded shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.20.
Shares of Louisiana-Pacific (NYSE:LPX) opened at 23.88 on Wednesday. The company has a 50-day moving average of $25.19 and a 200-day moving average of $21.69. The stock has a market capitalization of $3.46 billion, a PE ratio of 17.86 and a beta of 1.14. Louisiana-Pacific has a 12 month low of $15.74 and a 12 month high of $26.92.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Friday, May 5th. The construction company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Louisiana-Pacific had a net margin of 6.71% and a return on equity of 11.56%. The firm had revenue of $611 million during the quarter, compared to analysts’ expectations of $607.21 million. During the same period in the previous year, the company earned $0.07 earnings per share. Louisiana-Pacific’s quarterly revenue was up 21.0% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Louisiana-Pacific during the third quarter valued at $163,814,000. Iridian Asset Management LLC CT purchased a new stake in shares of Louisiana-Pacific during the first quarter valued at $70,106,000. Renaissance Technologies LLC increased its stake in shares of Louisiana-Pacific by 1,064.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,278,600 shares of the construction company’s stock valued at $24,204,000 after buying an additional 1,168,800 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Louisiana-Pacific by 2,253.6% in the fourth quarter. Two Sigma Investments LP now owns 1,036,682 shares of the construction company’s stock valued at $19,624,000 after buying an additional 992,636 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Louisiana-Pacific during the fourth quarter valued at $18,780,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.
In related news, Director Kurt M. Landgraf sold 3,878 shares of Louisiana-Pacific stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $22.80, for a total value of $88,418.40. Following the sale, the director now directly owns 43,075 shares in the company, valued at approximately $982,110. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Curtis M. Stevens sold 110,419 shares of Louisiana-Pacific stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $22.58, for a total transaction of $2,493,261.02. Following the completion of the sale, the chief executive officer now owns 408,827 shares in the company, valued at $9,231,313.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,918 shares of company stock worth $3,371,067. 1.76% of the stock is currently owned by insiders.
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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