Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Louisiana-Pacific Corporation shares valued at $572,778 were sold by Gottung Lizanne C on May 05. At $75.02 per share, Gottung Lizanne C sold 7,635 shares. The insider’s holdings dropped to 31,522 shares worth approximately $1.66 million following the completion of this transaction.
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Also, Southern William Bradley purchased 5,350 shares, netting a total of over 359,734 in proceeds. Following the buying of shares at $67.24 each, the insider now holds 466,312 shares.
As published in a research note from BofA Securities on September 20, 2022, Louisiana-Pacific Corporation [LPX] has been rated down from a Neutral to an Underperform and the price target has been revised to $56 from $64. This represents a 5.87% premium over Wednesday’s closing price. Analysts at Truist started covering the stock with ‘”a Hold”‘ outlook in a report released in late June. As of June 23, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for LPX. Earlier on April 12, 2022, TD Securities upgraded its rating. Their new recommendation was “a Buy” for LPX stock which previously was a “a Hold”.
Analyzing LPX’s Price Performance
On Wednesday, Louisiana-Pacific Corporation [NYSE: LPX] rose 0.51% to $52.71. The stock’s lowest price that day was $52.59, but it reached a high of $55.03 in the same session. During the last five days, there has been a drop of approximately -0.83%. Over the course of the year, Louisiana-Pacific Corporation shares have dropped approximately -32.72%. Shares of the company reached a 52-week high of $79.77 on 01/03/22 and a 52-week low of $49.98 on 06/23/22. A 50-day SMA is recorded $57.89, while a 200-day SMA reached $64.87. Nevertheless, trading volume fell to 1.71 million shares from 2.1 million shares the previous day.
Support And Resistance Levels for Louisiana-Pacific Corporation (LPX)
According to the 24-hour chart, there is a support level at 51.86, which, if violated, would cause prices to drop to 51.00. In the upper region, resistance lies at 54.30. The next price resistance is at 55.88. RSI (Relative Strength Index) is 40.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.32, which suggests the price will decrease in the coming days. Percent R is at 72.51%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Louisiana-Pacific Corporation subject to short interest?
Stocks of Louisiana-Pacific Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.39 million shares to 5.12 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.73 million shares. A jump of 7.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.59.
Which companies own the most shares of Louisiana-Pacific Corporation (LPX)?
According to The Vanguard Group, Inc. filings, the company currently owns 8,910,834 shares, which is about 12.06% of the total LPX shares outstanding. The investor’s shares have plunged by -722,840 from its previous 13-F filing of 9633674.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $368,432,438. First Trust Advisors LP acquire a 6.02% interest valued at $190.43 million while Macquarie Investment Management B sold a -146,879 stake. A total of -288,275 shares of Louisiana-Pacific Corporation were sold by Wellington Management Co. LLP during the quarter, and -109,472 were sold by Dimensional Fund Advisors LP. In its current portfolio, Barclays Bank Plc holds 2,306,026 shares valued at $125.06 million.
In terms of Louisiana-Pacific Corporation share price expectations, FactSet research, analysts set an average price target of $68.78 in the next 12 months, up nearly 33.49% from the previous closing price of $52.44. Analysts anticipate Louisiana-Pacific Corporation stock to reach $82.00 by 2022, with the lowest price target being $53.00. In spite of this, 10 analysts ranked Louisiana-Pacific Corporation stock as an Overweight at the end of 2022. On January 21, 2022, Goldman assigned a price target of “a Neutral” to the stock and upgraded coverage with a $84.