LG Display (NYSE:LPL) Cut to Sell at Citigroup

Citigroup downgraded shares of LG Display (NYSE:LPL) from a buy rating to a sell rating in a research note published on Thursday morning, MarketBeat Ratings reports.

A number of other research analysts have also recently weighed in on LPL. StockNews.com cut LG Display from a “buy” rating to a “hold” rating in a report on Monday, October 21st. JPMorgan Chase & Co. downgraded shares of LG Display from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley upgraded LG Display from an “equal weight” rating to an “overweight” rating in a report on Monday, September 16th.

LG Display Stock Performance

LG Display stock opened at $3.61 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.68. LG Display has a fifty-two week low of $3.45 and a fifty-two week high of $5.66. The stock has a fifty day moving average of $3.94 and a two-hundred day moving average of $3.98. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -1.49 and a beta of 1.37.

LG Display (NYSE:LPL) last posted its quarterly earnings data on Wednesday, August 14th. The electronics maker reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.37). The company had revenue of $4.89 billion for the quarter. LG Display had a negative net margin of 8.18% and a negative return on equity of 21.29%. On average, analysts anticipate that LG Display will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On LG Display

Several institutional investors and hedge funds have recently made changes to their positions in LPL. American Century Companies Inc. raised its holdings in LG Display by 5.7% in the second quarter. American Century Companies Inc. now owns 1,170,801 shares of the electronics maker’s stock valued at $4,824,000 after acquiring an additional 63,080 shares in the last quarter. Blue Trust Inc. lifted its position in shares of LG Display by 546.6% during the third quarter. Blue Trust Inc. now owns 183,391 shares of the electronics maker’s stock worth $756,000 after purchasing an additional 155,030 shares during the last quarter. Renaissance Technologies LLC acquired a new position in LG Display in the second quarter worth about $468,000. Sequoia Financial Advisors LLC increased its holdings in LG Display by 69.8% in the first quarter. Sequoia Financial Advisors LLC now owns 88,760 shares of the electronics maker’s stock valued at $364,000 after buying an additional 36,483 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in LG Display by 3.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 86,826 shares of the electronics maker’s stock valued at $351,000 after buying an additional 3,172 shares in the last quarter.

About LG Display

LG Display Co, Ltd., together with its subsidiaries, engages in the manufacture and sale of thin-film transistor liquid crystal display (TFT-LCD) and organic light emitting diode (OLED) technology-based display panels. Its TFT-LCD and OLED technology-based display panels are primarily used in televisions, notebook computers, desktop monitors, tablet computers, mobile devices, and automotive displays.