Livent Corporation (NASDAQ:LTHM) Given Consensus Rating of “Hold” by Brokerages

Shares of Livent Corporation (NASDAQ:LTHM) have earned an average rating of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.96.

LTHM has been the topic of several research analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $12.00 price objective (down from $18.00) on shares of Livent in a research note on Thursday, May 9th. Zacks Investment Research raised Livent from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Vertical Research lowered Livent from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Citigroup set a $8.00 price objective on Livent and gave the company a “hold” rating in a research note on Monday, July 15th. Finally, Loop Capital reduced their price objective on Livent to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th.

A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in Livent by 22.2% during the 2nd quarter. Wells Fargo & Company MN now owns 648,525 shares of the company’s stock worth $4,487,000 after acquiring an additional 118,005 shares in the last quarter. Lumbard & Kellner LLC acquired a new position in Livent during the 2nd quarter worth approximately $3,654,000. Ruffer LLP acquired a new position in Livent during the 2nd quarter worth approximately $27,161,000. Sigma Planning Corp acquired a new position in Livent during the 2nd quarter worth approximately $77,000. Finally, Coastal Investment Advisors Inc. raised its position in shares of Livent by 126.7% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 5,123 shares of the company’s stock valued at $35,000 after purchasing an additional 2,863 shares in the last quarter.

NASDAQ LTHM opened at $5.64 on Wednesday. Livent has a 1-year low of $5.49 and a 1-year high of $19.90. The company has a 50-day moving average price of $6.82.

Livent (NASDAQ:LTHM) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $114.00 million during the quarter, compared to analyst estimates of $108.85 million. The firm’s quarterly revenue was up 5.7% on a year-over-year basis.

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Livent (NASDAQ:LTHM)

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