Zacks Investment Research Downgrades Livent (NASDAQ:LTHM) to Sell
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 firms have also weighed in on LTHM. Argus lowered Livent from a “buy” rating to a “hold” rating and set a $7.58 target price for the company. in a report on Thursday, May 16th. Loop Capital reduced their target price on Livent to $12.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Gabelli initiated coverage on Livent in a report on Wednesday, February 27th. They set a “buy” rating and a $21.00 target price for the company. Citigroup lowered Livent from a “buy” rating to a “neutral” rating and reduced their target price for the company from $15.00 to $13.00 in a report on Monday, April 15th. Finally, Bank of America set a $16.00 target price on Livent and gave the company a “buy” rating in a report on Thursday, February 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Livent has a consensus rating of “Hold” and an average target price of $16.47.
Livent (NASDAQ:LTHM) last posted its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The business had revenue of $98.30 million during the quarter, compared to analyst estimates of $105.43 million. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of the company. CSat Investment Advisory L.P. boosted its position in shares of Livent by 24.2% during the 1st quarter. CSat Investment Advisory L.P. now owns 10,253 shares of the company’s stock valued at $126,000 after acquiring an additional 1,996 shares during the last quarter. NJ State Employees Deferred Compensation Plan boosted its position in shares of Livent by 5.0% during the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 42,000 shares of the company’s stock valued at $516,000 after acquiring an additional 2,000 shares during the last quarter. Athena Capital Advisors LLC bought a new stake in shares of Livent during the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Livent during the 4th quarter valued at about $31,000. Finally, Coastal Investment Advisors Inc. bought a new stake in shares of Livent during the 1st quarter valued at about $26,000.
Livent Company Profile
Livent Corporation manufactures and sells performance lithium compounds that are used primarily in energy storage, specialty polymers, and chemical synthesis application. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and supplies butyllithium, which is used as a synthesizer in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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