Lydall (LDL) Raised to “Hold” at Zacks Investment Research

Lydall (NYSE:LDL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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 topic of several other research reports. Roth Capital cut shares of Lydall from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $53.00 to $29.00 in a research report on Wednesday, November 7th. TheStreet lowered shares of Lydall from a “b-” rating to a “c+” rating in a report on Tuesday, October 23rd. Finally, ValuEngine lowered shares of Lydall from a “hold” rating to a “sell” rating in a report on Friday, October 12th.

Shares of Lydall stock traded down $0.27 on Wednesday, hitting $22.85. 500 shares of the company traded hands, compared to its average volume of 180,422. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.90 and a current ratio of 2.60. The stock has a market cap of $399.50 million, a P/E ratio of 8.20 and a beta of 1.61. Lydall has a 12-month low of $18.47 and a 12-month high of $50.60.

Lydall (NYSE:LDL) last posted its quarterly earnings data on Tuesday, November 6th. The auto parts company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.13). The company had revenue of $197.90 million for the quarter, compared to analysts’ expectations of $197.85 million. Lydall had a net margin of 5.47% and a return on equity of 12.07%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. On average, analysts predict that Lydall will post 2.27 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in LDL. Ancora Advisors LLC bought a new position in shares of Lydall during the 3rd quarter valued at $215,000. Diversified Trust Co bought a new position in shares of Lydall during the 3rd quarter valued at $216,000. SG Americas Securities LLC bought a new position in shares of Lydall during the 2nd quarter valued at $290,000. OppenheimerFunds Inc. grew its holdings in shares of Lydall by 22.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 10,837 shares of the auto parts company’s stock valued at $473,000 after purchasing an additional 1,977 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Lydall during the 3rd quarter valued at $478,000. 91.41% of the stock is currently owned by institutional investors.

About Lydall

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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