Zacks Investment Research cut shares of LG Display (NYSE:LPL) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.
According to Zacks, “LG Display Co., Ltd., formerly known as LG Philips LCD Co., Ltd., primarily manufactures and sells thin film transistor liquid crystal display (TFT-LCD) panels. The Company supplies its products to original equipment manufacturers and multinational corporations. LG Display offers TFT-LCD panels in a range of sizes and specifications primarily for use in televisions, notebook computers, and desktop monitors, as well as for handheld application products, such as mobile phones; and medium and large size panels for industrial and other applications, including entertainment systems, portable navigation devices, e-paper, digital photo displays, and medical diagnostic equipment. LG Display Co., Ltd. is based in Seoul, the Republic of Korea. “
A number of other brokerages also recently issued reports on LPL. ValuEngine raised LG Display from a hold rating to a buy rating in a report on Thursday. HSBC downgraded LG Display from a buy rating to a hold rating in a report on Wednesday, April 24th. Finally, Daiwa Capital Markets downgraded LG Display from an outperform rating to a neutral rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $7.00.
Shares of LPL stock traded down $0.36 during trading hours on Friday, reaching $5.21. 10,078 shares of the stock were exchanged, compared to its average volume of 459,406. The stock has a fifty day moving average price of $7.16. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.71. LG Display has a 12-month low of $5.48 and a 12-month high of $10.39. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -20.04 and a beta of 0.91.
LG Display (NYSE:LPL) last released its earnings results on Wednesday, May 15th. The electronics maker reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.08. LG Display had a negative net margin of 0.87% and a negative return on equity of 1.46%. The firm had revenue of $5.29 billion for the quarter. As a group, research analysts predict that LG Display will post -1.1 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC boosted its holdings in shares of LG Display by 55.8% in the first quarter. Lindbrook Capital LLC now owns 4,358 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 1,560 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of LG Display by 50.0% in the first quarter. Penserra Capital Management LLC now owns 5,058 shares of the electronics maker’s stock valued at $43,000 after acquiring an additional 1,686 shares during the period. Investors Research Corp acquired a new stake in shares of LG Display in the first quarter valued at approximately $53,000. Cornerstone Advisors Inc. boosted its holdings in shares of LG Display by 67.5% in the first quarter. Cornerstone Advisors Inc. now owns 6,211 shares of the electronics maker’s stock valued at $54,000 after acquiring an additional 2,503 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of LG Display by 79.0% in the first quarter. Parallel Advisors LLC now owns 7,891 shares of the electronics maker’s stock valued at $68,000 after acquiring an additional 3,483 shares during the period. 2.81% of the stock is owned by hedge funds and other institutional investors.
LG Display Company Profile
LG Display Co, Ltd. manufactures and sells thin-film transistor liquid crystal display and organic light-emitting diode (OLED) technology-based display panels in the Republic of Korea, China, Europe, rest of Asia, the United States, and internationally. It offers various display panels primarily for use in televisions, notebook computers, desktop monitors, tablet computers, and mobile devices.
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