LyondellBasell Industries (NYSE:LYB) Lowered to “Hold” Rating by Zacks Research

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

Several other research analysts also recently commented on LYB. Morgan Stanley boosted their target price on LyondellBasell Industries from $52.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on LyondellBasell Industries from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Mizuho cut their price target on LyondellBasell Industries from $76.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday. Royal Bank Of Canada decreased their price objective on shares of LyondellBasell Industries from $94.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Bank of America dropped their target price on shares of LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.56.

LyondellBasell Industries Trading Up 1.5%

Shares of LYB stock opened at $53.37 on Wednesday. The company has a market capitalization of $17.23 billion, a P/E ratio of -21.44, a P/E/G ratio of 0.17 and a beta of 0.32. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $66.46 and a 200 day moving average price of $61.79.

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 firm 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%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Research analysts forecast that LyondellBasell Industries will post 8.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYB. Stance Capital LLC bought a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at about $27,000. Banque Cantonale Vaudoise bought a new position in LyondellBasell Industries during the 1st quarter worth approximately $48,000. Quarry LP acquired a new position in LyondellBasell Industries during the third quarter valued at approximately $31,000. Clearstead Advisors LLC grew its holdings in LyondellBasell Industries by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 390 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new stake in LyondellBasell Industries in the second quarter valued at approximately $39,000. Institutional investors 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.