LyondellBasell Industries (NYSE:LYB) Rating Lowered to Hold at Zacks Research

LyondellBasell Industries (NYSE:LYB) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also commented on LYB. UBS Group reduced their price target on LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Bank of America lowered their price objective on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating for the company in a research report on Tuesday. Jefferies Financial Group upped their target price on LyondellBasell Industries from $70.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Evercore increased their target price on shares of LyondellBasell Industries from $70.00 to $73.00 in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.56.

LyondellBasell Industries Price Performance

LYB stock opened at $53.37 on Wednesday. The company has a fifty day moving average price of $66.46 and a 200-day moving average price of $61.79. The company has a market capitalization of $17.23 billion, a P/E ratio of -21.44, a PEG ratio of 0.17 and a beta of 0.32. LyondellBasell Industries has a 52-week low of $41.58 and a 52-week high of $83.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.18. The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. LyondellBasell Industries’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. As a group, equities analysts expect that LyondellBasell Industries will post 8.85 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LYB. Jamison Private Wealth Management Inc. boosted its holdings in LyondellBasell Industries by 1.6% during the first quarter. Jamison Private Wealth Management Inc. now owns 10,915 shares of the specialty chemicals company’s stock valued at $879,000 after purchasing an additional 172 shares in the last quarter. Investment Research Partners LLC raised its holdings in shares of LyondellBasell Industries by 4.4% in the 4th quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company’s stock worth $221,000 after buying an additional 214 shares in the last quarter. Ipsen Advisor Group LLC lifted its position in shares of LyondellBasell Industries by 2.4% during the 1st quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock worth $754,000 after buying an additional 216 shares during the period. Rothschild Investment LLC boosted its stake in LyondellBasell Industries by 3.5% in the 4th quarter. Rothschild Investment LLC now owns 8,025 shares of the specialty chemicals company’s stock valued at $347,000 after buying an additional 272 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its stake in LyondellBasell Industries by 5.6% in the 3rd quarter. Moors & Cabot Inc. now owns 5,495 shares of the specialty chemicals company’s stock valued at $269,000 after buying an additional 293 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.