Avantax Advisory Services Inc. acquired a new position in Livent Co. (NYSE:LTHM – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,296 shares of the company's stock, valued at approximately $438,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in LTHM. Lindbrook Capital LLC increased its stake in Livent by 2,902.7% in the second quarter. Lindbrook Capital LLC now owns 1,111 shares of the company's stock valued at $25,000 after acquiring an additional 1,074 shares during the last quarter. First Personal Financial Services bought a new position in Livent in the third quarter valued at $25,000. Credit Agricole S A bought a new position in Livent in the second quarter valued at $29,000. SeaCrest Wealth Management LLC bought a new position in Livent in the second quarter valued at $30,000. Finally, Sargent Bickham Lagudis LLC bought a new position in Livent in the third quarter valued at $35,000. Hedge funds and other institutional investors own 90.62% of the company's stock.
Get Livent alerts:Livent Stock Up 1.1 %
NYSE LTHM opened at $25.55 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.52 and a quick ratio of 2.65. The stock has a market capitalization of $4.58 billion, a PE ratio of 25.55 and a beta of 1.76. Livent Co. has a 1 year low of $18.26 and a 1 year high of $36.38. The business's 50-day moving average is $23.81 and its 200 day moving average is $27.25.
Livent (NYSE:LTHM – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Livent had a net margin of 27.67% and a return on equity of 20.00%. The business had revenue of $231.60 million during the quarter, compared to analyst estimates of $248.19 million. Sell-side analysts forecast that Livent Co. will post 1.35 earnings per share for the current year.Analyst Ratings Changes
A number of research firms recently commented on LTHM. Deutsche Bank Aktiengesellschaft reduced their target price on Livent from $30.00 to $22.00 in a research note on Tuesday, January 10th. Raymond James raised their price objective on Livent from $33.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, October 13th. Vertical Research raised Livent from a "hold" rating to a "buy" rating and set a $30.00 price objective on the stock in a research note on Wednesday, January 4th. B. Riley raised their price objective on Livent from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Thursday, October 27th. Finally, Piper Sandler reduced their price objective on Livent from $42.00 to $38.00 and set an "overweight" rating on the stock in a research note on Thursday, December 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.78.
Livent Profile
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Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. 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 butyllithium, which is used 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 non-rechargeable batteries and the production of lightweight materials for aerospace applications.
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