However, as with the fourth quarter, management offered no specific guidance other than to say the company is committed to meeting customer demand.
If there were any doubt about the housing recovery and its durability, Louisiana-Pacific's strong results should put these concerns to rest. New housing construction is improving. You can see it at Weyerhaeuser and in the are signs that
have begun to see an increase in foot traffic.
That said, it remains a challenge to value Louisiana-Pacific from an investment point of view. Given how quickly the company was able to reverse a $11 million loss from the a year ago and the six-point sequential jump in gross margin, this is a company that is picking up momentum even as it appears the stock has lost steam.
On the basis of the first-quarter performance, this stock is worth at least 20% higher than current value. Investors who are looking for a great way to play the housing recovery should consider Louisiana-Pacific.
At the time of publication, the author held no position in any of the stocks mentioned
This article was written by an independent contributor, separate from TheStreet's regular news coverage.