Bank of America downgraded shares of Livent (NASDAQ:LTHM) from a neutral rating to an underperform rating in a research note published on Monday, BenzingaRatingsTable reports. The brokerage currently has $7.00 price objective on the stock, down from their prior price objective of $10.00.
A number of other equities analysts have also commented on LTHM. Citigroup set a $8.00 price target on Livent and gave the stock a hold rating in a report on Monday, July 15th. Argus lowered Livent from a buy rating to a hold rating and set a $7.58 price target for the company. in a report on Thursday, May 16th. Vertical Research lowered Livent from a buy rating to a hold rating in a report on Thursday, May 9th. Nomura set a $9.00 price target on Livent and gave the stock a hold rating in a report on Wednesday, August 7th. Finally, Loop Capital cut their price target on Livent to $12.00 and set a buy rating for the company in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $15.11.
Livent stock opened at $6.55 on Monday. Livent has a one year low of $5.49 and a one year high of $19.90. The business has a fifty day moving average price of $6.83 and a 200-day moving average price of $9.61.
Livent (NASDAQ:LTHM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. The company had revenue of $114.00 million during the quarter, compared to the consensus estimate of $108.85 million. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Livent by 1,314.0% during 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 in the last quarter. FMR LLC lifted its position in Livent by 126.6% in the 1st quarter. FMR LLC now owns 5,001,460 shares of the company’s stock worth $61,418,000 after buying an additional 2,794,118 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Livent by 177.4% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 4,036,374 shares of the company’s stock worth $27,931,000 after buying an additional 2,581,453 shares during the last quarter. Cardinal Capital Management LLC CT lifted its position in Livent by 9.1% in the 2nd quarter. Cardinal Capital Management LLC CT now owns 4,036,300 shares of the company’s stock worth $27,931,000 after buying an additional 337,701 shares during the last quarter. Finally, Ruffer LLP bought a new stake in Livent in the 2nd quarter worth approximately $27,161,000.
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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