Lydall (LDL) Downgraded to “Neutral” at Roth Capital

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Lydall (NYSE:LDL) was downgraded by Roth Capital from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday. They currently have a $29.00 price target on the auto parts company’s stock. Roth Capital’s target price would suggest a potential upside of 2.26% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. TheStreet cut shares of Lydall from a “b-” rating to a “c+” rating in a research note on Tuesday, October 23rd. ValuEngine raised shares of Lydall from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, Zacks Investment Research raised shares of Lydall from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th.

Shares of LDL traded up $0.42 during mid-day trading on Wednesday, reaching $28.36. 37,026 shares of the company’s stock were exchanged, compared to its average volume of 106,403. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.82 and a quick ratio of 2.08. Lydall has a 52-week low of $25.70 and a 52-week high of $56.60. The stock has a market cap of $557.54 million, a price-to-earnings ratio of 10.13 and a beta of 1.76.

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 the Zacks’ consensus estimate of $0.67 by ($0.13). Lydall had a return on equity of 12.74% and a net margin of 6.20%. The business had revenue of $197.90 million for the quarter, compared to analysts’ expectations of $197.85 million. During the same period last year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts expect that Lydall will post 2.64 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. First National Bank of Omaha grew its stake in Lydall by 149.8% in the 3rd quarter. First National Bank of Omaha now owns 28,377 shares of the auto parts company’s stock worth $1,223,000 after acquiring an additional 17,015 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Lydall in the 3rd quarter worth approximately $478,000. Wells Fargo & Company MN grew its stake in Lydall by 35.7% in the 3rd quarter. Wells Fargo & Company MN now owns 112,396 shares of the auto parts company’s stock worth $4,844,000 after acquiring an additional 29,595 shares during the period. Victory Capital Management Inc. grew its stake in Lydall by 79.0% in the 3rd quarter. Victory Capital Management Inc. now owns 11,341 shares of the auto parts company’s stock worth $489,000 after acquiring an additional 5,004 shares during the period. Finally, US Bancorp DE grew its stake in Lydall by 9.7% in the 3rd quarter. US Bancorp DE now owns 42,752 shares of the auto parts company’s stock worth $1,843,000 after acquiring an additional 3,787 shares during the period. 92.28% of the stock is owned by hedge funds and other institutional investors.

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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