Truist Financial Forecasts Strong Price Appreciation for Louisiana-Pacific (NYSE:LPX) Stock

Louisiana-Pacific (NYSE:LPX) had its target price hoisted by analysts at Truist Financial from $117.00 to $135.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the building manufacturing company’s stock. Truist Financial’s target price indicates a potential upside of 25.64% from the company’s previous close.

LPX has been the topic of a number of other reports. StockNews.com lowered Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Bank of America boosted their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. BMO Capital Markets raised their price target on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group boosted their price objective on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Finally, DA Davidson raised their target price on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Louisiana-Pacific currently has a consensus rating of “Hold” and an average price target of $104.67.

Louisiana-Pacific Stock Down 3.4 %

Shares of LPX opened at $107.45 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92. Louisiana-Pacific has a 52 week low of $63.76 and a 52 week high of $122.87. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.72 and a beta of 1.94. The stock has a fifty day moving average of $110.57 and a 200-day moving average of $101.04.

Insider Buying and Selling

In other news, Director Ozey K. Horton, Jr. sold 300 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $113.41, for a total value of $34,023.00. Following the completion of the sale, the director now directly owns 28,638 shares in the company, valued at $3,247,835.58. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the transaction, the director now directly owns 18,513 shares in the company, valued at approximately $2,101,225.50. This trade represents a 11.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Louisiana-Pacific

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Louisiana-Pacific by 25.2% in the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock worth $340,427,000 after purchasing an additional 638,058 shares in the last quarter. State Street Corp grew its holdings in shares of Louisiana-Pacific by 10.8% during the third quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company’s stock valued at $231,529,000 after buying an additional 210,113 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Louisiana-Pacific by 92.4% during the second quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock valued at $103,363,000 after buying an additional 602,803 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Louisiana-Pacific by 11,417.9% during the third quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company’s stock worth $118,895,000 after acquiring an additional 1,096,804 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in Louisiana-Pacific in the 2nd quarter valued at about $91,053,000. Institutional investors own 94.73% of the company’s stock.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.