LG Display (LPL) Downgraded by Zacks Investment Research to “Strong Sell”

LG Display (NYSE:LPL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.

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 recently issued research reports about the stock. Morgan Stanley cut shares of LG Display from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 18th. HSBC upgraded shares of LG Display from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. LG Display has an average rating of “Hold” and an average target price of $15.00.

LG Display stock opened at $8.11 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.75 and a current ratio of 0.99. The firm has a market cap of $6.20 billion, a PE ratio of 3.38 and a beta of 0.88. LG Display has a fifty-two week low of $7.77 and a fifty-two week high of $15.88.

LG Display (NYSE:LPL) last posted its quarterly earnings data on Tuesday, August 14th. The electronics maker reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.31). The company had revenue of $5.22 billion for the quarter. LG Display had a net margin of 0.56% and a return on equity of 0.97%. As a group, equities analysts forecast that LG Display will post -0.63 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Northern Trust Corp raised its position in LG Display by 3.9% in the 2nd quarter. Northern Trust Corp now owns 425,481 shares of the electronics maker’s stock worth $3,506,000 after purchasing an additional 15,991 shares during the period. Schroder Investment Management Group raised its position in LG Display by 26.5% in the 2nd quarter. Schroder Investment Management Group now owns 137,622 shares of the electronics maker’s stock worth $1,084,000 after purchasing an additional 28,841 shares during the period. Miller Value Partners LLC purchased a new position in LG Display in the 2nd quarter worth $129,000. Macquarie Group Ltd. raised its position in LG Display by 13.1% in the 2nd quarter. Macquarie Group Ltd. now owns 291,509 shares of the electronics maker’s stock worth $2,402,000 after purchasing an additional 33,700 shares during the period. Finally, Renaissance Technologies LLC raised its position in LG Display by 128.3% in the 2nd quarter. Renaissance Technologies LLC now owns 166,900 shares of the electronics maker’s stock worth $1,375,000 after purchasing an additional 93,800 shares during the period. Institutional investors own 3.01% of the company’s stock.

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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