Lydall (LDL) Downgraded by Roth Capital

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.

Lydall (NYSE:LDL) last issued its quarterly earnings data on Tuesday, November 6th. The auto parts company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.13). The company had revenue of $197.90 million for the quarter, compared to analysts’ expectations of $197.85 million. Lydall had a return on equity of 12.17% and a net margin of 5.47%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. On average, equities research analysts predict that Lydall will post 2.64 EPS for the current year.

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.

About Lydall

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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