Roth Capital downgraded shares of Lydall (NYSE:LDL) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat reports. The brokerage currently has $29.00 price objective on the auto parts company’s stock, down from their previous price objective of $53.00.
A number of other equities research analysts have also recently weighed in on the company. ValuEngine cut Lydall from a hold rating to a sell rating in a research note on Friday, October 12th. Zacks Investment Research cut Lydall from a hold rating to a sell rating in a research note on Saturday, August 4th. Finally, TheStreet cut Lydall from a b- rating to a c+ rating in a research note on Tuesday, October 23rd.
Shares of LDL traded down $1.32 during midday trading on Wednesday, reaching $27.29. 3,529 shares of the stock were exchanged, compared to its average volume of 135,473. The company has a current ratio of 2.82, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $485.59 million, a price-to-earnings ratio of 9.78 and a beta of 1.76. Lydall has a 52 week low of $25.70 and a 52 week high of $56.60.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC purchased a new stake in shares of Lydall during the 2nd quarter worth $176,000. Bank of Montreal Can purchased a new stake in Lydall in the second quarter valued at about $192,000. Xact Kapitalforvaltning AB purchased a new stake in Lydall in the first quarter valued at about $201,000. Nisa Investment Advisors LLC purchased a new stake in Lydall in the second quarter valued at about $218,000. Finally, SG Americas Securities LLC purchased a new stake in Lydall in the second quarter valued at about $290,000. Hedge funds and other institutional investors own 92.28% of the company’s stock.
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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