Zacks Investment Research Lowers LG Display (NYSE:LPL) to Hold

LG Display (NYSE:LPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, 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. “

Several other research analysts have also weighed in on the company. Daiwa Capital Markets upgraded LG Display from a “hold” rating to an “outperform” rating in a research report on Monday, September 21st. BidaskClub lowered LG Display from a “buy” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. LG Display presently has a consensus rating of “Buy” and an average target price of $9.50.

Shares of LG Display stock traded up $0.40 during mid-day trading on Wednesday, reaching $8.19. 281,843 shares of the stock traded hands, compared to its average volume of 386,258. The business has a 50-day moving average of $7.21 and a 200 day moving average of $6.22. LG Display has a fifty-two week low of $3.63 and a fifty-two week high of $8.49. The stock has a market capitalization of $5.86 billion, a PE ratio of -2.81 and a beta of 1.16. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.98.

LG Display (NYSE:LPL) last announced its earnings results on Monday, November 16th. The electronics maker reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.19. The business had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.82 billion. LG Display had a negative return on equity of 21.09% and a negative net margin of 10.96%. On average, equities research analysts expect that LG Display will post -0.81 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ethic Inc. bought a new position in shares of LG Display in the second quarter worth about $114,000. Bank of New York Mellon Corp bought a new position in shares of LG Display in the 2nd quarter worth $269,000. Marshall Wace LLP boosted its position in shares of LG Display by 33,346.9% in the 2nd quarter. Marshall Wace LLP now owns 601,709 shares of the electronics maker’s stock worth $2,906,000 after purchasing an additional 599,910 shares during the last quarter. Balentine LLC bought a new position in shares of LG Display in the 2nd quarter worth $47,000. Finally, Sei Investments Co. bought a new position in shares of LG Display in the 2nd quarter worth $90,000. Institutional investors and hedge funds own 2.24% of the company’s stock.

About LG Display

LG Display Co, Ltd. manufactures and sells thin-film transistor liquid crystal display (TFT-LCD) and organic light emitting diode (OLED) technology-based display panels in South Korea, China, rest of Asia, Poland, other European countries, and the United States. The company's TFT-LCD and OLED technology-based display panels are primarily used in televisions, notebook computers, desktop monitors, tablet computers, and mobile devices.

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