LyondellBasell Industries (LYB) Upgraded at Nomura

LyondellBasell Industries (NYSE:LYB) was upgraded by equities researchers at Nomura from a “neutral” rating to a “buy” rating in a report released on Monday, Benzinga reports. The brokerage currently has a $113.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $87.00. Nomura’s price objective would indicate a potential upside of 21.56% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Goldman Sachs Group raised shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $104.00 to $125.00 in a research note on Wednesday, March 6th. Deutsche Bank upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and boosted their price objective for the company from $94.00 to $95.00 in a research report on Monday, December 17th. Cowen reiterated a “market perform” rating and issued a $100.00 price objective on shares of LyondellBasell Industries in a research report on Wednesday, February 6th. Bank of America upgraded LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Tuesday, April 2nd. Finally, reiterated a “buy” rating and issued a $120.00 price objective on shares of LyondellBasell Industries in a research report on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $115.79.

Shares of LYB traded up $0.67 during mid-day trading on Monday, hitting $92.96. The company’s stock had a trading volume of 420,073 shares, compared to its average volume of 2,554,641. The stock has a market capitalization of $34.18 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.10. LyondellBasell Industries has a fifty-two week low of $77.52 and a fifty-two week high of $119.39.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, February 1st. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.13 by ($0.30). The business had revenue of $8.88 billion during the quarter, compared to analyst estimates of $9.22 billion. LyondellBasell Industries had a return on equity of 42.30% and a net margin of 12.02%. As a group, equities research analysts forecast that LyondellBasell Industries will post 10.24 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in LYB. Advisors Preferred LLC purchased a new stake in LyondellBasell Industries during the fourth quarter worth $31,000. Berman Capital Advisors LLC acquired a new position in shares of LyondellBasell Industries during the fourth quarter worth $31,000. Truvestments Capital LLC acquired a new position in shares of LyondellBasell Industries during the first quarter worth $33,000. Pflug Koory LLC increased its position in shares of LyondellBasell Industries by 100.0% during the fourth quarter. Pflug Koory LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. Finally, Phocas Financial Corp. acquired a new position in shares of LyondellBasell Industries during the fourth quarter worth $33,000. Institutional investors and hedge funds own 72.49% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

Further Reading: Balanced Fund

Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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