LyondellBasell Industries (NYSE:LYB) Upgraded by Bank of America to “Buy”

Bank of America upgraded shares of LyondellBasell Industries (NYSE:LYB) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, The Fly reports. Bank of America currently has $115.00 price target on the specialty chemicals company’s stock, up from their previous price target of $100.00.

LYB has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft cut shares of LyondellBasell Industries from a buy rating to a hold rating and set a $80.00 price target on the stock. in a research note on Friday, November 13th. Sanford C. Bernstein lowered LyondellBasell Industries from an outperform rating to a market perform rating and set a $83.00 target price on the stock. in a report on Friday, November 13th. Wells Fargo & Company restated a hold rating on shares of LyondellBasell Industries in a report on Monday, November 2nd. Zacks Investment Research raised shares of LyondellBasell Industries from a sell rating to a hold rating and set a $84.00 price target on the stock in a report on Tuesday, November 10th. Finally, Morgan Stanley raised their price objective on shares of LyondellBasell Industries from $85.00 to $96.00 and gave the stock an overweight rating in a research note on Monday, December 14th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. LyondellBasell Industries presently has a consensus rating of Hold and a consensus price target of $76.74.

Shares of LyondellBasell Industries stock opened at $102.92 on Monday. The firm has a market cap of $34.37 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 1.58 and a beta of 1.55. LyondellBasell Industries has a 52-week low of $33.71 and a 52-week high of $104.22. The company’s 50-day simple moving average is $93.81 and its 200-day simple moving average is $81.79. The company has a quick ratio of 1.41, a current ratio of 2.25 and a debt-to-equity ratio of 1.88.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Thursday, January 28th. The specialty chemicals company reported $2.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.83. The company had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.06 billion. LyondellBasell Industries had a return on equity of 24.09% and a net margin of 4.23%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.92 EPS. Equities research analysts anticipate that LyondellBasell Industries will post 4.77 EPS for the current year.

In other news, SVP Kimberly A. Foley sold 2,261 shares of the company’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $103.50, for a total transaction of $234,013.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ai Investments Holdings Llc sold 90,881 shares of the stock in a transaction on Wednesday, December 2nd. The stock was sold at an average price of $86.01, for a total value of $7,816,674.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,462 shares of company stock valued at $8,080,531. Corporate insiders own 0.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LYB. Charter Oak Capital Management LLC purchased a new stake in LyondellBasell Industries during the fourth quarter worth approximately $27,000. Founders Capital Management acquired a new position in shares of LyondellBasell Industries during the 4th quarter valued at $30,000. TD Ameritrade Investment Management LLC purchased a new stake in LyondellBasell Industries during the 4th quarter worth $32,000. Alpha DNA Investment Management LLC acquired a new stake in LyondellBasell Industries in the 4th quarter valued at $33,000. Finally, Vantage Consulting Group Inc purchased a new position in LyondellBasell Industries in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 67.61% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsÂAmericas; Olefins and PolyolefinsÂEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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