Double-digit days for LP, O’Charley’s
Posted on November 5, 2009 at 2:57 pm
Shares of Louisiana-Pacific (Ticker: LPX) are basking in the afterglow of analyst praise and have extended the strong run that was cut short yesterday. Heading into the close, they’re up more than 17 percent.
Why O’Charley’s is up about the same amount is more of a puzzle. Yes, many industry players are having good days, but this Dow Jones chart shows Nashville-based O’Charley’s (Ticker: CHUX) is outpacting them by a factor of two to one.
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Analysts impressed with LP
Posted on at 7:43 am
Although they rolled over late in the day like the broader market, shares of Louisiana-Pacific (Ticker: LPX) had a nice Wednesday after several analysts praised Rick Frost’s crew for their steady hand during a “sloppy” economy. D.A. Davidson analyst Steven Chercover raised his rating on the company to ‘buy’ from ‘neutral.’
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LP buys back chunk of debt
Posted on November 4, 2009 at 8:25 amIn its quarterly filing with the SEC, Louisiana-Pacific says it spent $113 million late last month to buy back more than a third of its debt series due in 2017. The company (Ticker: LPX) will take a $21 million charge this quarter to account for the deal.
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Analyst action: Louisiana-Pacific
Posted on October 12, 2009 at 1:52 pmJP Morgan analyst Claudia Shank Hueston has given shares of Louisiana-Pacific (Ticker: LPX) and other paper and forest product companies a boost by raising her earnings estimates. In the case of LP, Hueston said the company’s recent capital raise will improve its profit potential.
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LP cuts the check
Posted on September 29, 2009 at 1:36 pmAfter raising more than $130 million in a stock offering, Louisiana-Pacific execs have given the word to Bank of New York Mellon to redeem more than a third of the $375 million of debt it raised earlier this year.
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LP prices offering
Posted on September 24, 2009 at 7:49 amThe maker of construction materials will sell at least 18 million shares at $6.75, a 4.8 percent discount to Wednesday’s close. Underwriters will have the option to market another 2.7 million shares, which would lift the offering’s total proceeds to almost $140 million. Shares of LP (Ticker: LPX) are off almost 4 percent in pre-market trading.
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Analyst action: Tractor Supply, LP, Healthcare Realty
Posted on September 22, 2009 at 11:40 amThomas Weisel Partners analyst Christian Buss has initiated coverage of Tractor Supply with a ‘market weight’ rating and target of $51. Shares of the Brentwood-based retailer (Ticker: TSCO) are down a bit today, but up more than 30 percent in 2009.
Over at Oppenheimer, analyst Mark Biffert has begun covering shares of Healthcare Realty (Ticker: HR) and its peers with ‘perform’ ratings. Biffert sees the Nashville-based company growing per-share funds from operations 8 percent in 2010 but sees “limited near-term acquisition opportunities until pricing improves.”
And at Barclays Capital, Peter Ruschmeier has reiterated his rating of Louisiana-Pacific at ‘overweight’ but lowered his price target to $7 from $7.50. LP shares (Ticker: LPX) are stoutly ignoring that info, rising more than 3 percent to $7.49 this morning.
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Neutral’s not bad when your stock has quintupled in six months
Posted on September 9, 2009 at 3:08 pmSterne Agee has launched coverage of the timber/pulp/packaging sector with a variety of ratings. Among the companies initiated at ‘neutral’ is Nashville’s Louisiana-Pacific, whose shares have risen from less than $2 to more than $7 (Ticker: LPX) since the market’s March lows.
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Another LP upgrade
Posted on August 28, 2009 at 7:01 amScotia Capital has upgraded shares of Louisiana-Pacific — which have rallied a furious 80 percent this month — from ’sector underperform’ to ’sector perform.’ The firm has also lifted its price target from $5.75 to $7.50 — right where the stock (Ticker: LPX) closed regular trading Thursday.
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Another sign of the bottom for LP
Posted on August 24, 2009 at 2:34 pmWord from the forests is that wood prices are stabilizing.
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Analyst action: Healthcare Realty, LP
Posted on August 12, 2009 at 8:12 amMorgan Keegan has raised its opinion of Healthcare Realty to ‘outperform’ from ‘market perform.’ The Nashville-based REIT (Ticker: HR) earlier this week reported better-than-expected Q2 results. The stock is up about 1 percent in pre-market trading.
Over at Goldman Sachs, analyst Joe Stivaletti has lowered his rating of Louisiana-Pacific to ‘neutral’ after its recent run. The stock (Ticker: LPX) is set to open down about 3 percent.
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Cold water on hot LP shares
Posted on at 7:12 amUBS analyst Gail Glazerman says the big jump in Louisiana-Pacific — which doubled in less than a month — is “overdone” and “premature” given the challenges the company still faces. The stock (Ticker: LPX) duly fell more than 6 percent.
Then again — and even taking into account the housing market’s collapse — wasn’t last year’s ski slope from $10 to $1.50 overdone and premature, too?
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Another reason LP’s rally is real
Posted on August 10, 2009 at 7:08 am
A Barron’s piece outlines the reasons why the price of timber — the main input cost for the Nashville-based construction materials supplier — is set to fall 50 percent in the coming years.
Timberland is a rarity because prices have risen steadily since the mid-1990s, with Southern timber properties more than doubling to around $1,700 an acre, even as the price of logs, lumber and other forest products scrapes multiyear lows. Last year, when almost all investment categories declined in value and the U.S. stock market fell about 35%, timberland prices rose 9%, atop a 17% gain in 2007.
SEE ALSO: More fuel for LP’s fire
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More fuel for LP’s fire
Posted on August 6, 2009 at 3:13 pmAfter UBS’ upgrade this morning, Louisiana-Pacific shares (Ticker: LPX) get another boost from D.A. Davidson analyst Steve Chercover, who has raised his price target to $7.50 in part because of rising OSB prices.
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Three in a row for LP?
Posted on at 8:01 am
Shareholders of Louisiana-Pacific are hoping the stock’s post-earnings continues today. Since Tuesday morning, their shares (Ticker: LPX) are up 41 percent on heavy volume, suggesting some big buyers have decided now’s the time to get back in.
UPDATE: An upgrade from UBS certainly won’t hurt.
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