Lydall (LDL) Downgraded by Zacks Investment Research to “Strong Sell”

Lydall (NYSE:LDL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Lydall, Inc. is a New York Stock Exchange listed company, headquartered in Manchester, Connecticut with global manufacturing operations producing specialty engineered products for the thermal/acoustical and filtration/separation markets. The company develops and manufactures engineered materials for a variety of applications. Lydall Inc., operates through the following business segments: Performance Materials segment, Technical Nonwovens segment, Thermal and Acoustical Metals segment and Thermal and Acoustical Fibers segment. With operations in Europe, North America, and Asia Lydall, Inc., provides a wide range of engineered products designed and manufactured for industrial applications. Lydall’s products are found primarily in underbody and under hood applications within vehicles. Lydall, Inc. is headquartered in Manchester, CT. “

LDL has been the subject of a number of other research reports. ValuEngine cut Lydall from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Roth Capital set a $24.00 target price on Lydall and gave the company a “hold” rating in a research report on Thursday, May 2nd. Finally, Sidoti cut their target price on Lydall from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $36.00.

Shares of Lydall stock opened at $22.74 on Tuesday. The company has a quick ratio of 1.92, a current ratio of 2.34 and a debt-to-equity ratio of 0.82. Lydall has a 52 week low of $18.47 and a 52 week high of $48.45. The company has a market capitalization of $389.36 million, a price-to-earnings ratio of 9.36 and a beta of 1.78.

Lydall (NYSE:LDL) last announced its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.15). Lydall had a net margin of 3.42% and a return on equity of 9.51%. The firm had revenue of $218.03 million during the quarter, compared to analyst estimates of $223.18 million. During the same period last year, the business posted $0.67 EPS. The company’s revenue was up 13.8% on a year-over-year basis. As a group, research analysts predict that Lydall will post 1.24 EPS for the current year.

Several large investors have recently made changes to their positions in LDL. Bank of New York Mellon Corp boosted its position in shares of Lydall by 13.3% during the third quarter. Bank of New York Mellon Corp now owns 230,470 shares of the auto parts company’s stock valued at $9,934,000 after buying an additional 26,995 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in shares of Lydall by 52.6% during the third quarter. MetLife Investment Advisors LLC now owns 12,734 shares of the auto parts company’s stock valued at $549,000 after buying an additional 4,392 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Lydall by 19.3% during the third quarter. Teachers Advisors LLC now owns 57,698 shares of the auto parts company’s stock valued at $2,487,000 after buying an additional 9,350 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Lydall by 8.6% during the third quarter. Legal & General Group Plc now owns 37,054 shares of the auto parts company’s stock valued at $1,590,000 after buying an additional 2,943 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Lydall by 42.4% during the third quarter. Morgan Stanley now owns 92,782 shares of the auto parts company’s stock valued at $3,998,000 after buying an additional 27,626 shares during the last quarter. 93.32% of the stock is currently owned by institutional investors.

Lydall Company Profile

Lydall, Inc designs, manufactures, and markets specialty engineered filtration media, industrial thermal insulating solutions, and automotive thermal and acoustical barriers for filtration/separation and thermal/acoustical applications worldwide. It operates through Performance Materials, Technical Nonwovens, and Thermal Acoustical Solutions segments.

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