Livent (NYSE:LTHM) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Livent (NYSE:LTHM) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $26.00 price target on the stock.

According to Zacks, “Livent Corporation produces and distributes lithium chemicals. The Company offers lithium chemicals for applications in batteries, agrochemicals, aerospace alloys, greases, pharmaceuticals, polymers, and various industrial applications. Livent Corporation is based in PA, United States. “

A number of other research analysts also recently weighed in on the company. Raymond James raised their price objective on Livent from $26.00 to $33.00 and gave the company an outperform rating in a research note on Friday, November 5th. The Goldman Sachs Group downgraded Livent from a neutral rating to a sell rating and lifted their price target for the stock from $22.00 to $23.00 in a research report on Wednesday, December 15th. Loop Capital lifted their price target on Livent from $27.00 to $28.00 and gave the stock a buy rating in a research report on Monday, October 4th. Vertical Research raised Livent from a hold rating to a buy rating and set a $30.00 price target on the stock in a research report on Tuesday, January 4th. Finally, Mizuho lifted their price target on Livent from $26.00 to $31.00 and gave the stock a neutral rating in a research report on Tuesday, November 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Livent currently has a consensus rating of Hold and a consensus target price of $26.64.

Shares of LTHM stock opened at $24.58 on Wednesday. The stock’s 50 day simple moving average is $27.17 and its 200 day simple moving average is $24.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.87 and a quick ratio of 3.63. Livent has a twelve month low of $14.73 and a twelve month high of $33.04.

Livent (NYSE:LTHM) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Livent had a negative net margin of 3.13% and a positive return on equity of 2.22%. The company had revenue of $103.60 million during the quarter, compared to the consensus estimate of $96.00 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The firm’s revenue was up 42.7% on a year-over-year basis. Analysts anticipate that Livent will post 0.15 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Livent by 2.6% in the 3rd quarter. BlackRock Inc. now owns 24,305,323 shares of the company’s stock valued at $561,696,000 after buying an additional 609,643 shares in the last quarter. Vanguard Group Inc. boosted its stake in Livent by 7.8% in the second quarter. Vanguard Group Inc. now owns 17,061,497 shares of the company’s stock worth $330,310,000 after purchasing an additional 1,241,572 shares in the last quarter. State Street Corp boosted its stake in Livent by 6.1% in the second quarter. State Street Corp now owns 4,733,887 shares of the company’s stock worth $91,648,000 after purchasing an additional 272,634 shares in the last quarter. Geode Capital Management LLC boosted its stake in Livent by 4.1% in the third quarter. Geode Capital Management LLC now owns 2,600,000 shares of the company’s stock worth $60,086,000 after purchasing an additional 101,819 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Livent by 31.6% in the second quarter. Royal Bank of Canada now owns 2,545,510 shares of the company’s stock worth $49,281,000 after purchasing an additional 611,844 shares in the last quarter. 94.06% of the stock is currently owned by institutional investors and hedge funds.

About Livent

Livent Corp. engages in the production of performance lithium compounds. Its products include battery-grade lithium hydroxide, butyllithium, and purity lithium metal which are used in various performance applications. It operates through the following geographical segments: North America; Europe, Middle East, and Africa; Latin America; and Asia Pacific.

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