Zacks Investment Research cut shares of Livent (NYSE:LTHM) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

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. “

Other analysts have also recently issued reports about the stock. Nomura set a $9.00 price target on shares of Livent and gave the company a hold rating in a report on Wednesday, August 7th. ValuEngine raised shares of Livent from a sell rating to a hold rating in a report on Wednesday, October 2nd. Citigroup cut their price target on shares of Livent from $8.25 to $7.50 and set a neutral rating on the stock in a report on Wednesday. Finally, Bank of America cut shares of Livent from a neutral rating to an underperform rating and cut their price target for the company from $10.00 to $7.00 in a report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $15.08.

LTHM traded up $0.36 during trading on Thursday, hitting $6.94. The company had a trading volume of 1,875,457 shares, compared to its average volume of 1,668,587. The company has a market cap of $960.55 million and a PE ratio of 7.63. The business has a 50-day moving average of $6.65 and a 200-day moving average of $7.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.85 and a quick ratio of 2.11. Livent has a 1-year low of $5.49 and a 1-year high of $19.90.

Livent (NYSE:LTHM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $114.00 million for the quarter, compared to analysts’ expectations of $108.85 million. Livent had a net margin of 19.88% and a return on equity of 19.98%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts forecast that Livent will post 0.58 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Livent by 1,314.0% during the first quarter. BlackRock Inc. now owns 22,020,859 shares of the company’s stock valued at $270,417,000 after purchasing an additional 20,463,527 shares during the last quarter. Luminus Management LLC increased its stake in Livent by 8.1% during the second quarter. Luminus Management LLC now owns 6,005,871 shares of the company’s stock valued at $41,561,000 after purchasing an additional 448,236 shares during the last quarter. FMR LLC increased its stake in Livent by 126.6% during the first 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 during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Livent by 177.4% during the second quarter. CIBC Private Wealth Group LLC now owns 4,036,374 shares of the company’s stock worth $27,931,000 after acquiring an additional 2,581,453 shares during the last quarter. Finally, Cardinal Capital Management LLC CT grew its position in shares of Livent by 9.1% during the second quarter. Cardinal Capital Management LLC CT now owns 4,036,300 shares of the company’s stock worth $27,931,000 after acquiring an additional 337,701 shares during the last quarter. Hedge funds and other institutional investors own 97.98% of the company’s stock.

About Livent

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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