Scotiabank analyst Scotia Capital maintained a Hold rating on Louisiana-Pacific (LPX) yesterday and set a price target of $37.00. The company’s shares closed last Wednesday at $31.40, close to its 52-week high of $34.35.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Louisiana-Pacific with a $35.67 average price target, which is an 11.7% upside from current levels. In a report released yesterday, TD Securities also maintained a Hold rating on the stock with a $35.00 price target.
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Based on Louisiana-Pacific’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $548 million and net profit of $33 million. In comparison, last year the company earned revenue of $588 million and had a net profit of $17 million.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LPX in relation to earlier this year.
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Louisiana-Pacific Corp. engages in designing, manufacturing and marketing of products for the new home construction, repair and remodeling and outdoor structures markets. It operates through the following four segments: Siding, Oriented Strand Board (OSB), Engineered Wood Products, and South America. The Siding segment offers wood-based sidings, trim, soffit, fascia, and pre-finished lap and trim products in a variety of patterns and textures. The OSB segment manufactures and distributes oriented strand board structural panel products. The Engineered Wood Products segment includes laminated veneer lumber, laminated strand lumber, I-Joists, and other related products. The South American segment covers the distribution of OSB and siding products in South America and certain export markets. The company was founded on January 5, 1973 and is headquartered in Nashville, TN.
