2024-02-23 03:43:46 ET
Summary
- Louisiana-Pacific's historical revenue growth and margins have been volatile due to their correlation with home construction activity.
- US housing starts dropped 14.8% in January 2024, led by a decrease in both single and multifamily housing, with the latter falling more.
- February 2024's mortgage rate rose due to hotter-than-expected inflation data.
- With a mixed outlook and a lack of margin of safety in its share price, I am recommending a hold rating.
Synopsis
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Louisiana-Pacific: Uncertain Housing market Creating Headwind