Louisiana-Pacific Co. (NYSE:LPX) Sees Large Growth in Short Interest

Louisiana-Pacific Co. (NYSE:LPXGet Free Report) was the recipient of a large increase in short interest in the month of February. As of February 29th, there was short interest totalling 2,500,000 shares, an increase of 85.2% from the February 14th total of 1,350,000 shares. Based on an average daily trading volume, of 751,200 shares, the days-to-cover ratio is presently 3.3 days. Approximately 3.5% of the company’s shares are sold short.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Louisiana-Pacific from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. TD Cowen reiterated a “hold” rating and set a $75.00 target price on shares of Louisiana-Pacific in a research note on Thursday, January 11th. TheStreet downgraded shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. The Goldman Sachs Group upped their price objective on shares of Louisiana-Pacific from $57.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, December 14th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $76.00 target price on shares of Louisiana-Pacific in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Louisiana-Pacific presently has an average rating of “Hold” and a consensus target price of $73.71.

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Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock traded up $2.11 on Friday, hitting $78.44. The company had a trading volume of 5,276,767 shares, compared to its average volume of 889,301. The business has a 50-day simple moving average of $70.11 and a 200-day simple moving average of $63.58. Louisiana-Pacific has a 52 week low of $49.47 and a 52 week high of $79.73. The company has a market cap of $5.67 billion, a PE ratio of 32.02 and a beta of 1.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.00 and a quick ratio of 1.54.

Louisiana-Pacific (NYSE:LPXGet Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The building manufacturing company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. The firm had revenue of $658.00 million during the quarter, compared to the consensus estimate of $618.60 million. Louisiana-Pacific had a net margin of 6.90% and a return on equity of 15.65%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. Research analysts expect that Louisiana-Pacific will post 3.85 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.24. Louisiana-Pacific’s payout ratio is currently 42.45%.

Hedge Funds Weigh In On Louisiana-Pacific

Several institutional investors and hedge funds have recently modified their holdings of the stock. Zions Bancorporation N.A. bought a new stake in Louisiana-Pacific during the first quarter worth about $25,000. Larson Financial Group LLC acquired a new stake in Louisiana-Pacific during the 3rd quarter valued at approximately $37,000. Atlas Capital Advisors LLC acquired a new stake in shares of Louisiana-Pacific during the 2nd quarter worth approximately $42,000. Osterweis Capital Management Inc. acquired a new stake in shares of Louisiana-Pacific during the 2nd quarter worth approximately $45,000. Finally, State of Wyoming acquired a new stake in shares of Louisiana-Pacific during the 4th quarter worth approximately $49,000. 91.94% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Company Profile

(Get Free Report)

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.

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