LG Display Co., Ltd. (LPL) Upgraded to Hold at Zacks Investment Research
LG Display Co., Ltd. (NYSE:LPL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Friday.
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 have also recently weighed in on LPL. BidaskClub cut LG Display Co. from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. UBS Group AG (USA) cut LG Display Co. from a “buy” rating to a “neutral” rating in a report on Wednesday, July 26th. Cowen and Company restated a “buy” rating and set a $20.40 price objective on shares of LG Display Co. in a research note on Friday, July 28th. Finally, Nomura restated a “neutral” rating on shares of LG Display Co. in a research note on Thursday, October 19th. Four analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $16.50.
LG Display Co. (LPL) traded up $0.05 on Friday, reaching $13.18. 642,329 shares of the company traded hands, compared to its average volume of 921,804. The firm has a market capitalization of $9.44 billion, a P/E ratio of 4.03, a PEG ratio of 0.35 and a beta of 0.44.
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Several large investors have recently added to or reduced their stakes in the stock. Stevens Capital Management LP acquired a new position in shares of LG Display Co. in the third quarter worth about $415,000. Crossmark Global Holdings Inc. acquired a new position in shares of LG Display Co. in the third quarter worth about $383,000. Aperio Group LLC lifted its stake in shares of LG Display Co. by 20.0% in the third quarter. Aperio Group LLC now owns 887,040 shares of the electronics maker’s stock worth $11,904,000 after acquiring an additional 147,601 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of LG Display Co. in the third quarter worth about $175,000. Finally, USA Financial Portformulas Corp acquired a new position in shares of LG Display Co. in the second quarter worth about $773,000. Institutional investors and hedge funds 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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