Livent (NYSE:LTHM) Upgraded by Zacks Investment Research to Buy

Livent (NYSE:LTHM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm presently has a $28.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 6.38% from the company’s current price.

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. “

LTHM has been the subject of several other reports. Mizuho initiated coverage on Livent in a report on Tuesday. They issued a “neutral” rating and a $26.00 price objective for the company. Citigroup upgraded Livent from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $28.00 in a research report on Tuesday. Raymond James upped their target price on Livent from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 5th. TheStreet raised Livent from a “d+” rating to a “c” rating in a report on Monday. Finally, Vertical Research raised Livent from a “sell” rating to a “hold” rating and set a $22.00 price target on the stock in a report on Monday, August 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Livent presently has a consensus rating of “Hold” and an average target price of $22.28.

NYSE:LTHM opened at $26.32 on Thursday. Livent has a 12 month low of $9.88 and a 12 month high of $27.27. The firm has a market capitalization of $4.25 billion, a PE ratio of -292.44, a price-to-earnings-growth ratio of 3.52 and a beta of 2.16. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.63 and a quick ratio of 4.31. The business’s 50-day moving average is $24.31 and its two-hundred day moving average is $20.50.

Livent (NYSE:LTHM) last announced its earnings results on Thursday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. Livent had a positive return on equity of 0.13% and a negative net margin of 3.18%. The business had revenue of $102.20 million for the quarter, compared to analyst estimates of $88.80 million. Equities analysts anticipate that Livent will post 0.14 EPS for the current year.

In other news, CFO Gilberto Antoniazzi sold 4,300 shares of the company’s stock in a transaction on Monday, October 11th. The shares were sold at an average price of $23.32, for a total value of $100,276.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.11% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LTHM. Federated Hermes Inc. bought a new stake in Livent during the first quarter valued at approximately $41,750,000. Renaissance Technologies LLC boosted its holdings in shares of Livent by 219.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,413,700 shares of the company’s stock valued at $41,805,000 after buying an additional 1,658,400 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Livent by 317.2% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,982,067 shares of the company’s stock worth $38,373,000 after purchasing an additional 1,507,012 shares in the last quarter. Vanguard Group Inc. boosted its stake in Livent by 7.8% in the 2nd 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. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Livent by 48.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,479,176 shares of the company’s stock worth $60,259,000 after buying an additional 1,138,660 shares during the last quarter. Institutional investors and hedge funds own 94.13% of the company’s stock.

Livent Company Profile

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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