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

LG Display (NYSE:LPL) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings downgraded shares of LG Display from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, LG Display currently has an average rating of “Sell”.

LG Display Stock Down 5.8%

Shares of NYSE:LPL opened at $3.17 on Thursday. The firm has a 50 day simple moving average of $4.27 and a 200-day simple moving average of $4.30. LG Display has a twelve month low of $3.16 and a twelve month high of $5.83. The company has a current ratio of 0.34, a quick ratio of 0.22 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $3.17 billion, a PE ratio of -158.75 and a beta of 1.65.

LG Display (NYSE:LPL) last posted its earnings results on Wednesday, July 1st. The electronics maker reported ($0.26) EPS for the quarter. LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. The company had revenue of $3.62 billion during the quarter. On average, equities analysts predict that LG Display will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On LG Display

A number of hedge funds have recently modified their holdings of the business. Essex Bank purchased a new stake in shares of LG Display in the first quarter valued at about $50,000. Sivia Capital Partners LLC acquired a new stake in shares of LG Display during the fourth quarter worth about $77,000. Greenspring Advisors LLC purchased a new position in shares of LG Display during the fourth quarter worth about $184,000. PNC Financial Services Group Inc. grew its holdings in shares of LG Display by 20.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 233,189 shares of the electronics maker’s stock worth $982,000 after buying an additional 39,392 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in LG Display by 20.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 149,363 shares of the electronics maker’s stock valued at $629,000 after acquiring an additional 25,310 shares during the period.

About LG Display

LG Display Co, Ltd., headquartered in Seoul, South Korea, is a global manufacturer of thin-film transistor liquid crystal display (TFT-LCD) and organic light-emitting diode (OLED) panels. The company designs and produces display solutions for a wide range of applications, including televisions, desktop monitors, notebook computers, tablets, smartphones, signage and automotive screens. Its product offerings span large-screen television modules, ultra-high definition monitors, flexible and transparent OLED displays, and specialized industrial panels.

LG Display operates a network of production facilities and research centers across Asia, including major manufacturing sites in Paju and Gumi, South Korea, as well as Wuhan, China.