Livent (LTHM) Upgraded at Zacks Investment Research
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 recently commented on LTHM. Gabelli began coverage on shares of Livent in a report on Wednesday, February 27th. They set a buy rating and a $21.00 price target on the stock. Bank of America set a $16.00 price target on shares of Livent and gave the company a buy rating in a report on Thursday, February 14th. Credit Suisse Group set a $18.00 price target on shares of Livent and gave the company a buy rating in a report on Thursday, February 14th. Loop Capital cut their price target on shares of Livent to $18.00 and set a buy rating on the stock in a report on Wednesday, February 13th. Finally, Citigroup cut shares of Livent from a buy rating to a neutral rating and cut their price target for the company from $15.00 to $13.00 in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Livent presently has a consensus rating of Hold and a consensus target price of $16.47.
Livent (NASDAQ:LTHM) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The firm had revenue of $98.30 million for the quarter, compared to analysts’ expectations of $105.43 million. The business’s revenue was down 4.4% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Livent by 1,314.0% in the first quarter. BlackRock Inc. now owns 22,020,859 shares of the company’s stock worth $270,417,000 after purchasing an additional 20,463,527 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Livent by 7,298.9% in the first quarter. Wellington Management Group LLP now owns 9,148,952 shares of the company’s stock worth $112,350,000 after purchasing an additional 9,025,299 shares during the last quarter. FMR LLC boosted its holdings in Livent by 126.6% in the first quarter. FMR LLC now owns 5,001,460 shares of the company’s stock worth $61,418,000 after purchasing an additional 2,794,118 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Livent in the first quarter worth approximately $26,215,000. Finally, Northern Trust Corp boosted its holdings in Livent by 493.0% in the first quarter. Northern Trust Corp now owns 1,900,681 shares of the company’s stock worth $23,340,000 after purchasing an additional 1,580,171 shares during the last quarter.
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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