Downgrade Alert for Louisiana-Pacific (LPX)
Louisiana-Pacific (NYSE:LPX) was downgraded from Outperform to Market Perform at BMO Capital today. The stock closed yesterday at $19.84 on volume of 2.7 million shares, above average daily volume of 2.1 million.
Louisiana-Pacific Corporation manufactures building materials and engineered wood products in the United States, Canada, Chile, and Brazil. The Company's products are used by homebuilders and light commercial builders. Louisiana Pacific's products include oriented strand board sheathing, flooring, radiant barrier panels, siding and trim, I-joists, and laminated veneer lumber.
Over the past year, Louisiana-Pacific has traded in a range of $13.31 to $20.97 and closed yesterday at $19.84, 49% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.
Louisiana-Pacific (NYSE:LPX) is currently priced 11.3% above its average consensus analyst price target of $17.59. Louisiana-Pacific shares have support at the 50-day moving average (MA) of $16.85 and additional support at the 200-day MA of $16.49.
SmarTrend recommended that subscribers consider buying shares of Louisiana-Pacific on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.15. Since that recommendation, shares of Louisiana-Pacific have risen 11.8%. We continue to monitor LPX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades louisiana-pacific