Short Interest in Louisiana-Pacific Co. (NYSE:LPX) Declines By 5.3%

Louisiana-Pacific Co. (NYSE:LPX) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 8,183,300 shares, a decline of 5.3% from the April 30th total of 8,645,100 shares. Currently, 6.1% of the shares of the company are sold short. Based on an average trading volume of 2,310,000 shares, the days-to-cover ratio is presently 3.5 days.

A number of research analysts recently commented on LPX shares. Stephens raised Weyerhaeuser from an “equal weight” rating to an “overweight” rating and set a $32.00 target price on the stock in a research note on Friday, April 5th. Longbow Research upgraded shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Monday, May 20th. TD Securities upped their price target on shares of WestJet Airlines from C$19.00 to C$20.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Zacks Investment Research lowered shares of Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Finally, ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $28.96.

Hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC bought a new position in Louisiana-Pacific in the first quarter worth about $45,000. Toronto Dominion Bank increased its stake in shares of Louisiana-Pacific by 28.5% during the fourth quarter. Toronto Dominion Bank now owns 2,570 shares of the building manufacturing company’s stock valued at $57,000 after purchasing an additional 570 shares in the last quarter. Baker Ellis Asset Management LLC bought a new position in shares of Louisiana-Pacific during the first quarter valued at approximately $134,000. Hollencrest Capital Management bought a new position in shares of Louisiana-Pacific during the first quarter valued at approximately $213,000. Finally, Virtu Financial LLC bought a new position in shares of Louisiana-Pacific during the first quarter valued at approximately $215,000. 89.45% of the stock is owned by institutional investors.

Shares of Louisiana-Pacific stock traded up $0.05 during trading on Friday, reaching $25.86. 1,281,438 shares of the stock were exchanged, compared to its average volume of 1,686,197. Louisiana-Pacific has a 1 year low of $20.39 and a 1 year high of $32.16. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 3.93 and a beta of 1.44. The stock’s fifty day moving average is $24.86. The company has a current ratio of 3.55, a quick ratio of 2.25 and a debt-to-equity ratio of 0.28.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Tuesday, May 7th. The building manufacturing company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). Louisiana-Pacific had a return on equity of 19.63% and a net margin of 12.16%. The company had revenue of $582.00 million during the quarter, compared to the consensus estimate of $601.49 million. During the same period in the previous year, the company earned $0.63 earnings per share. Louisiana-Pacific’s quarterly revenue was down 15.8% on a year-over-year basis. On average, analysts predict that Louisiana-Pacific will post 1.32 earnings per share for the current year.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.

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