Livent Corporation (NASDAQ:LTHM) has been given an average recommendation of “Hold” by the fifteen brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $15.46.
A number of research analysts have weighed in on the company. Gabelli assumed coverage on Livent in a research note on Wednesday, February 27th. They set a “buy” rating and a $21.00 price target on the stock. Loop Capital set a $18.00 price target on Livent and gave the stock a “buy” rating in a research note on Friday, March 1st. Citigroup lowered Livent from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $13.00 in a research note on Monday, April 15th. Zacks Investment Research raised Livent from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $12.00 price target (down previously from $18.00) on shares of Livent in a research note on Thursday, May 9th.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Livent by 1,314.0% in the 1st quarter. BlackRock Inc. now owns 22,020,859 shares of the company’s stock worth $270,417,000 after buying an additional 20,463,527 shares during the period. FMR LLC increased its holdings in Livent by 126.6% in the 1st quarter. FMR LLC now owns 5,001,460 shares of the company’s stock valued at $61,418,000 after purchasing an additional 2,794,118 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Livent in the 1st quarter valued at $26,215,000. CIBC Private Wealth Group LLC increased its holdings in Livent by 9.1% in the 1st quarter. CIBC Private Wealth Group LLC now owns 1,454,921 shares of the company’s stock valued at $17,866,000 after purchasing an additional 121,438 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in Livent by 65.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,038,336 shares of the company’s stock valued at $12,751,000 after purchasing an additional 411,198 shares in the last quarter.
Livent (NASDAQ:LTHM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $98.30 million during the quarter, compared to the consensus estimate of $105.43 million. The business’s revenue for the quarter was down 4.4% on a year-over-year basis.
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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