LG Display Co. (LPL) Lowered to “Hold” at Zacks Investment Research
LG Display Co. (NYSE:LPL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Other equities research analysts have also recently issued research reports about the company. Bank of America Corp. raised LG Display from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 19th. Sanford C. Bernstein cut LG Display from an “outperform” rating to a “market perform” rating and set a $13.18 target price for the company. in a research note on Friday, September 9th. They noted that the move was a valuation call. Nomura raised LG Display from a “reduce” rating to a “neutral” rating in a research note on Tuesday, June 28th. Credit Agricole SA raised LG Display from a “sell” rating to an “outperform” rating in a research note on Wednesday, July 6th. Finally, Barclays PLC started coverage on LG Display in a research note on Tuesday, June 21st. They issued an “overweight” rating and a $14.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. LG Display currently has an average rating of “Hold” and a consensus target price of $12.62.
Shares of LG Display (NYSE:LPL) opened at 13.01 on Wednesday. The company’s 50 day moving average price is $13.46 and its 200-day moving average price is $11.89. LG Display has a 52 week low of $8.43 and a 52 week high of $14.36. The stock has a market capitalization of $9.31 billion, a PE ratio of 100.08 and a beta of 1.16.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new position in LG Display during the second quarter worth about $141,000. Quantitative Systematic Strategies LLC raised its position in LG Display by 11.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 14,463 shares of the company’s stock worth $162,000 after buying an additional 1,462 shares during the period. A.R.T. Advisors LLC bought a new position in LG Display during the second quarter worth about $283,000. Capital Fund Management S.A. bought a new position in LG Display during the second quarter worth about $313,000. Finally, Wetherby Asset Management Inc. raised its position in LG Display by 6.5% in the second quarter. Wetherby Asset Management Inc. now owns 27,200 shares of the company’s stock worth $315,000 after buying an additional 1,660 shares during the period. Hedge funds and other institutional investors own 3.34% of the company’s stock.
About LG Display
LG Display Co, Ltd. manufactures thin-film transistor liquid crystal display (TFT-LCD), organic light emitting diode (OLED) and other display panel technologies. It manufactures display panels in a range of sizes and specifications primarily for use in televisions, notebook computers, desktop monitors, tablet computers and various other applications, including mobile devices.
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