LG Display Co. (LPL) Cut to Sell at Zacks Investment Research
LG Display Co. (NYSE:LPL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to 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 analysts have also issued research reports about the company. TheStreet upgraded LG Display from a “hold” rating to a “buy” rating in a report on Monday. Goldman Sachs Group Inc. assumed coverage on LG Display in a report on Monday, November 21st. They set a “sell” rating for the company. Sanford C. Bernstein lowered LG Display from an “outperform” rating to a “market perform” rating and set a $13.18 price objective for the company. in a report on Friday, September 9th. They noted that the move was a valuation call. Finally, Deutsche Bank AG lowered LG Display from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.82.
LG Display (NYSE:LPL) opened at 12.01 on Wednesday. The company’s 50-day moving average price is $12.32 and its 200 day moving average price is $12.36. The stock has a market capitalization of $8.59 billion, a P/E ratio of 112.24 and a beta of 0.84. LG Display has a 52-week low of $8.43 and a 52-week high of $14.36.
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Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA purchased a new position in LG Display during the third quarter valued at about $102,000. Crow Point Partners LLC bought a new stake in shares of LG Display during the third quarter valued at $131,000. Verition Fund Management LLC increased its stake in shares of LG Display by 5.1% in the third quarter. Verition Fund Management LLC now owns 11,709 shares of the company’s stock valued at $149,000 after buying an additional 572 shares in the last quarter. Princeton Alpha Management LP bought a new stake in shares of LG Display during the third quarter valued at $150,000. Finally, KCG Holdings Inc. bought a new stake in shares of LG Display during the third quarter valued at $152,000. 3.42% of the stock is currently owned by hedge funds and other institutional investors.
About LG Display
LG Display Co, Ltd. manufactures thin-film transistor liquid crystal display, organic light emitting diode and other display panel technologies. The Company 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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