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 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. “
A number of other brokerages also recently commented on LPL. Sanford C. Bernstein downgraded shares of 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. Deutsche Bank AG downgraded shares of LG Display from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Goldman Sachs Group Inc. assumed coverage on shares of LG Display in a research note on Monday, November 21st. They set a “sell” rating for the company. Finally, TheStreet raised shares of LG Display from a “hold” rating to a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.82.
Shares of LG Display (NYSE:LPL) opened at 12.01 on Wednesday. LG Display has a 52-week low of $8.43 and a 52-week high of $14.36. The firm has a market capitalization of $8.59 billion, a PE ratio of 112.24 and a beta of 0.84. The stock’s 50 day moving average price is $12.32 and its 200-day moving average price is $12.36.
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Several large investors have recently made changes to their positions in LPL. Airain ltd acquired a new stake in shares of LG Display during the second quarter worth approximately $382,000. World Asset Management Inc boosted its stake in shares of LG Display by 8.0% in the third quarter. World Asset Management Inc now owns 47,849 shares of the company’s stock worth $609,000 after buying an additional 3,558 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of LG Display during the second quarter worth approximately $3,904,000. Quantitative Systematic Strategies LLC boosted its stake in shares of 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 last quarter. Finally, Capital Fund Management S.A. acquired a new stake in shares of LG Display during the second quarter worth approximately $313,000. 3.42% of the stock is owned by institutional investors and hedge funds.
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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