KeyCorp Initiates Coverage on Livent (NYSE:LTHM)

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Equities research analysts at KeyCorp assumed coverage on shares of Livent (NYSE:LTHM) in a note issued to investors on Wednesday, The Fly reports. The firm set a “sector weight” rating on the stock.

LTHM has been the topic of several other research reports. Credit Suisse Group lowered Livent from an “outperform” rating to a “neutral” rating and increased their target price for the company from $9.00 to $11.00 in a report on Tuesday, February 18th. ValuEngine downgraded Livent from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Vertical Research cut Livent from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Zacks Investment Research downgraded Livent from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, TheStreet raised Livent from a “d+” rating to a “c-” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $8.80.

NYSE:LTHM traded up $0.62 during trading hours on Wednesday, hitting $5.40. The company’s stock had a trading volume of 3,722,100 shares, compared to its average volume of 3,356,818. The stock has a market capitalization of $774.02 million, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 6.07 and a beta of 1.77. The stock has a fifty day moving average of $8.72 and a 200-day moving average of $8.02. The company has a current ratio of 2.22, a quick ratio of 1.29 and a debt-to-equity ratio of 0.31. Livent has a 52-week low of $3.95 and a 52-week high of $13.09.

Livent (NYSE:LTHM) last posted its earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $78.40 million for the quarter, compared to analyst estimates of $76.61 million. Livent had a return on equity of 11.53% and a net margin of 12.93%. Livent’s revenue for the quarter was down 34.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, sell-side analysts forecast that Livent will post 0.23 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Islay Capital Management LLC acquired a new stake in Livent during the 4th quarter worth approximately $27,000. Chevy Chase Trust Holdings Inc. acquired a new stake in Livent in the fourth quarter valued at about $50,000. Marshall Wace LLP purchased a new stake in Livent in the 1st quarter valued at approximately $52,000. Virtu Financial LLC purchased a new stake in Livent in the 3rd quarter valued at approximately $83,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Livent by 56.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 13,380 shares of the company’s stock valued at $90,000 after purchasing an additional 4,806 shares in the last quarter. 98.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

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