LG Display (NYSE:LPL) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of LG Display (NYSE:LPL) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. The brokerage currently has $7.75 target price on the electronics maker’s stock.

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. “

Several other brokerages also recently weighed in on LPL. HSBC raised shares of United Microelectronics from a reduce rating to a hold rating in a research note on Wednesday, April 24th. Daiwa Capital Markets downgraded shares of LG Display from an outperform rating to a neutral rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $7.75.

LPL traded down $0.06 during trading hours on Wednesday, hitting $7.13. 169,300 shares of the company’s stock were exchanged, compared to its average volume of 370,890. LG Display has a 12-month low of $6.71 and a 12-month high of $10.39. The stock’s 50 day moving average price is $7.23. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of -27.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.71 and a current ratio of 0.98.

A number of hedge funds and other institutional investors have recently bought and sold shares of LPL. Evergreen Capital Management LLC acquired a new stake in shares of LG Display during the 1st quarter worth about $138,000. Corient Capital Partners LLC acquired a new stake in shares of LG Display during the 1st quarter worth about $95,000. Signaturefd LLC boosted its stake in shares of LG Display by 12.8% during the 1st quarter. Signaturefd LLC now owns 15,157 shares of the electronics maker’s stock worth $131,000 after purchasing an additional 1,716 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of LG Display by 23.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,877,619 shares of the electronics maker’s stock worth $16,241,000 after purchasing an additional 362,688 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in shares of LG Display by 53.1% during the 1st quarter. Wetherby Asset Management Inc. now owns 58,520 shares of the electronics maker’s stock worth $506,000 after purchasing an additional 20,302 shares during the last quarter. Institutional investors own 2.75% of the company’s stock.

LG Display Company Profile

LG Display Co, Ltd. manufactures and sells thin-film transistor liquid crystal display and organic light-emitting diode (OLED) technology-based display panels in the Republic of Korea, China, Europe, rest of Asia, the United States, and internationally. It offers various display panels primarily for use in televisions, notebook computers, desktop monitors, tablet computers, and mobile devices.

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