LG Display Co., Ltd. (LPL) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of LG Display Co., Ltd. (NYSE:LPL) from a strong sell rating to a hold rating in a research note published on Friday morning.
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 commented on the stock. Cowen and Company set a $16.00 price target on shares of LG Display Co. and gave the company a buy rating in a report on Monday, October 23rd. Nomura restated a neutral rating on shares of LG Display Co. in a report on Thursday, October 19th. BidaskClub upgraded shares of LG Display Co. from a sell rating to a hold rating in a report on Tuesday, August 22nd. Finally, UBS AG lowered shares of LG Display Co. from a buy rating to a neutral rating in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $16.50.
Shares of LG Display Co. (LPL) traded up $0.05 during mid-day trading on Friday, hitting $13.18. 642,329 shares of the stock traded hands, compared to its average volume of 921,804. The firm has a market capitalization of $9,432.00, a PE ratio of 4.03, a price-to-earnings-growth ratio of 0.35 and a beta of 0.44.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its position in LG Display Co. by 13.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,444 shares of the electronics maker’s stock valued at $120,000 after acquiring an additional 857 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in LG Display Co. in the first quarter valued at approximately $149,000. Athos Capital Ltd acquired a new stake in LG Display Co. in the second quarter valued at approximately $160,000. Cubist Systematic Strategies LLC acquired a new stake in LG Display Co. in the second quarter valued at approximately $168,000. Finally, Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in LG Display Co. in the second quarter valued at approximately $170,000. Hedge funds and other institutional investors own 3.70% of the company’s stock.
About LG Display Co.
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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