LG Display (NYSE:LPL) Reaches New 52-Week High After Analyst Upgrade

Key Points

• LG Display shares hit a new 52-week high of $4.98 after UBS upgraded the stock rating from sell to neutral.
• Morgan Stanley also upgraded LG Display from "underweight" to "equal weight," contributing to the stock's positive movements, despite an average rating of "Reduce" from analysts.
• Institutional investors showed increased interest, with significant holdings modifications including a 323.8% increase by Quadrant Capital Group in the second quarter.

Shares of LG Display Co., Ltd. (NYSE:LPL - Get Free Report) reached a new 52-week high during trading on Tuesday after UBS Group upgraded the stock from a sell rating to a neutral rating. The company traded as high as $4.98 and last traded at $4.97, with a volume of 81444 shares trading hands. The stock had previously closed at $4.95.

Separately, Morgan Stanley raised shares of LG Display from an "underweight" rating to an "equal weight" rating in a report on Wednesday, June 11th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, LG Display currently has an average rating of "Reduce".

Hedge Funds Weigh In On LG Display

Institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its position in shares of LG Display by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 1,510,470 shares of the electronics maker's stock worth $5,166,000 after buying an additional 161,409 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of LG Display by 323.8% in the second quarter. Quadrant Capital Group LLC now owns 175,947 shares of the electronics maker's stock worth $602,000 after acquiring an additional 134,432 shares in the last quarter. Vident Advisory LLC boosted its position in LG Display by 46.2% during the 1st quarter. Vident Advisory LLC now owns 392,350 shares of the electronics maker's stock worth $1,220,000 after purchasing an additional 123,994 shares during the period. Cerity Partners LLC lifted its position in LG Display by 498.6% during the 1st quarter. Cerity Partners LLC now owns 128,662 shares of the electronics maker's stock worth $400,000 after acquiring an additional 107,167 shares in the last quarter. Finally, Ethic Inc. grew its holdings in LG Display by 58.3% during the 2nd quarter. Ethic Inc. now owns 259,673 shares of the electronics maker's stock valued at $904,000 after purchasing an additional 95,675 shares in the last quarter.

LG Display Stock Performance

The firm has a market capitalization of $4.98 billion, a PE ratio of -11.82, a price-to-earnings-growth ratio of 0.28 and a beta of 1.41. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.62 and a quick ratio of 0.37. The stock has a 50-day moving average price of $4.17 and a 200-day moving average price of $3.50.

LG Display (NYSE:LPL - Get Free Report) last posted its earnings results on Thursday, August 14th. The electronics maker reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.07). The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.85 billion. LG Display had a negative net margin of 2.25% and a negative return on equity of 7.60%. On average, research analysts expect that LG Display Co., Ltd. will post 0.59 EPS for the current fiscal year.

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.

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