LG Display (NYSE:LPL) Shares Gap Up - Time to Buy?

Key Points

• LG Display shares gapped up at the open on Wednesday, rising from a prior close of $3.26 to $3.40 before trading around $3.3550.
• Analyst sentiment remains cautious: Zacks upgraded the stock to hold, Weiss Ratings downgraded it further to a weaker sell rating, and MarketBeat shows an average rating of Reduce.
• The company’s fundamentals look pressured, with its latest quarter showing an EPS loss of ($0.39) versus expectations of ($0.22), while analysts expect LG Display to post a loss for the full year.

LG Display Co., Ltd. (NYSE:LPL - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $3.26, but opened at $3.40. LG Display shares last traded at $3.3550, with a volume of 168,124 shares trading hands.

Wall Street Analyst Weigh In

LPL has been the subject of several recent analyst reports. Zacks Research upgraded LG Display from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Weiss Ratings cut LG Display from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, LG Display currently has an average rating of "Reduce".

LG Display Stock Performance

The company has a market cap of $3.31 billion, a P/E ratio of -166.25 and a beta of 1.65. The company's fifty day moving average is $4.38 and its 200 day moving average is $4.32. The company has a current ratio of 0.34, a quick ratio of 0.22 and a debt-to-equity ratio of 1.63.

LG Display (NYSE:LPL - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The electronics maker reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.17). The business had revenue of $3.78 billion for the quarter. LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. As a group, equities analysts predict that LG Display Co., Ltd. will post -0.21 earnings per share for the current fiscal year.

Institutional Trading of LG Display

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of LG Display by 4.6% in the second quarter. GAMMA Investing LLC now owns 87,102 shares of the electronics maker's stock worth $339,000 after buying an additional 3,808 shares during the period. EverSource Wealth Advisors LLC raised its holdings in LG Display by 82.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 17,799 shares of the electronics maker's stock valued at $69,000 after buying an additional 8,032 shares during the last quarter. Foster Group Inc. purchased a new stake in LG Display during the 2nd quarter valued at $82,000. PNC Financial Services Group Inc. boosted its position in LG Display by 37.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 320,244 shares of the electronics maker's stock valued at $1,243,000 after buying an additional 87,055 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in LG Display by 58.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 237,393 shares of the electronics maker's stock worth $921,000 after acquiring an additional 88,030 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.