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Louisiana-Pacific (NYSE:LPX) trades down 4.1% following analyst downgrade

Louisiana-Pacific Co. (NYSE:LPX – Get Rating) traded down 4.1% on Thursday after Goldman Sachs Group lowered its price target on the stock from $90.00 to 65.00 $. Goldman Sachs Group currently has a neutral rating on the stock. Louisiana-Pacific traded as low as $50.76 and last traded at $51.26. 47,010 shares were traded during trading, down 97% from the average session volume of 1,358,167 shares. The stock previously closed at $53.47.

Several other brokerages also commented on LPX. Bank of America downgraded Louisiana-Pacific shares from a “buy” rating to a “neutral” rating and set a price target of $67.00 for the stock. in a research report Thursday. TD Securities cut its price target on Louisiana-Pacific shares from $85.00 to $75.00 in a research note Thursday. DA Davidson reissued a “buy” rating on Louisiana-Pacific shares in a Wednesday, Feb. 23 research note. Finally, StockNews.com launched coverage on Louisiana-Pacific stocks in a research note on Thursday, March 31. They issued a “hold” rating for the company. Three research analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.25.

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Separately, director Lizanne C. Gottung sold 7,635 shares of the company in a transaction dated Thursday, May 5. The shares were sold at an average price of $75.02, for a total transaction of $572,777.70. Following the sale, the director now owns 31,522 shares of the company, valued at approximately $2,364,780.44. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Company insiders hold 1.26% of the company’s shares.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in LPX. Tudor Investment Corp Et Al raised its position in Louisiana-Pacific shares by 65.0% during the third quarter. Tudor Investment Corp Et Al now owns 26,170 shares of the building manufacturing company valued at $1,606,000 after buying an additional 10,308 shares in the last quarter. National Asset Management Inc. increased its position in Louisiana-Pacific shares by 6.8% during the third quarter. National Asset Management Inc. now owns 14,371 shares of the building fabrication company worth $882,000 after buying 917 additional shares in the last quarter. Janus Henderson Group PLC purchased a new equity stake in Louisiana-Pacific during the third quarter at a value of $659,000. Cetera Investment Advisers increased its holdings of Louisiana-Pacific shares 3.3% in the third quarter. Cetera Investment Advisers now owns 11,035 shares of the building fabrication company valued at $677,000 after acquiring 349 additional shares last quarter. Finally, Captrust Financial Advisors raised its position in Louisiana-Pacific shares by 26.2% in the third quarter. Captrust Financial Advisors now owns 9,782 shares of the building fabrication company worth $600,000 after buying 2,031 additional shares during the period. Institutional investors hold 94.99% of the company’s shares.

The company’s 50-day moving average price is $66.19 and its two-hundred-day moving average price is $68.44. The stock has a market capitalization of $4.23 billion, a PE ratio of 3.09 and a beta of 1.53. The company has a current ratio of 2.92, a quick ratio of 2.09 and a debt ratio of 0.21.

Louisiana-Pacific (NYSE:LPX – Get Rating) last released its quarterly results on Tuesday, May 3. The building manufacturing company reported earnings per share (EPS) of $5.08 for the quarter, beating analysts’ consensus estimate of $4.54 by $0.54. Louisiana-Pacific had a net margin of 31.62% and a return on equity of 105.01%. The company posted revenue of $1.34 billion for the quarter, versus analyst estimates of $1.26 billion. In the same quarter a year earlier, the company posted EPS of $3.01. Louisiana-Pacific’s revenue for the quarter increased 31.5% over the same quarter last year. On average, analysts expect Louisiana-Pacific Co. to post 14.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 26. Shareholders of record on Thursday, May 12 received a dividend of $0.22. The ex-dividend date was Wednesday, May 11. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 1.71%. Louisiana-Pacific’s payout ratio is currently 5.31%.

About Louisiana-Pacific (NYSE:LPX)

Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for the construction, repair and renovation of new homes and outdoor structures markets. It operates through four segments: Siding; Oriented strand board (OSB); Engineered Wood Products (EWP); and South America.

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