Livent (LTHM) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Livent (NASDAQ:LTHM) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, 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. “

LTHM has been the subject of several other research reports. Bank of America cut Livent from a buy rating to a neutral rating and decreased their price objective for the company from $16.00 to $10.00 in a report on Friday, May 10th. Credit Suisse Group restated an outperform rating and issued a $12.00 price objective (down previously from $18.00) on shares of Livent in a report on Thursday, May 9th. Citigroup cut Livent from a buy rating to a neutral rating and decreased their price objective for the company from $15.00 to $13.00 in a report on Monday, April 15th. Gabelli cut Livent from a buy rating to a sell rating in a report on Thursday, May 9th. Finally, Loop Capital decreased their price objective on Livent to $12.00 and set a buy rating for the company in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $16.47.

LTHM stock opened at $6.39 on Tuesday. Livent has a 1 year low of $6.34 and a 1 year high of $19.90.

Livent (NASDAQ:LTHM) last released its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The business had revenue of $98.30 million during the quarter, compared to analysts’ expectations of $105.43 million. Livent’s revenue was down 4.4% on a year-over-year basis.

A number of institutional investors have recently bought and sold shares of LTHM. BlackRock Inc. grew its holdings in 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 during the period. Wellington Management Group LLP grew its holdings in Livent by 7,298.9% during 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 period. FMR LLC grew its holdings in Livent by 126.6% during 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 period. Victory Capital Management Inc. bought a new position in Livent during the first quarter worth about $26,215,000. Finally, Northern Trust Corp grew its holdings in Livent by 493.0% during 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 period.

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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