UBS Group Forecasts Strong Price Appreciation for LyondellBasell Industries (NYSE:LYB) Stock

LyondellBasell Industries (NYSE:LYB) had its target price raised by stock analysts at UBS Group from $62.00 to $69.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group‘s price target would suggest a potential upside of 4.32% from the company’s current price.

Several other equities research analysts have also commented on LYB. Bank of America restated an “underperform” rating and set a $66.00 target price on shares of LyondellBasell Industries in a research report on Monday. KeyCorp initiated coverage on LyondellBasell Industries in a report on Thursday, September 10th. They issued a “sector weight” rating for the company. Mizuho set a $68.00 price target on LyondellBasell Industries in a research note on Monday. Royal Bank Of Canada raised their price objective on shares of LyondellBasell Industries from $68.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of LyondellBasell Industries from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.61.

LyondellBasell Industries Trading Down 1.1%

NYSE LYB traded down $0.74 during mid-day trading on Tuesday, reaching $66.14. 520,319 shares of the stock were exchanged, compared to its average volume of 5,740,170. The stock has a market cap of $21.37 billion, a P/E ratio of 16.62, a P/E/G ratio of 0.17 and a beta of 0.30. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. The stock has a 50 day simple moving average of $62.73 and a 200-day simple moving average of $63.68.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.03). LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same period last year, the company posted $1.01 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. On average, analysts anticipate that LyondellBasell Industries will post 9.25 EPS for the current year.

Institutional Investors Weigh In On LyondellBasell Industries

Hedge funds have recently added to or reduced their stakes in the company. Cidel Asset Management Inc. lifted its holdings in shares of LyondellBasell Industries by 2.0% in the 2nd quarter. Cidel Asset Management Inc. now owns 9,996 shares of the specialty chemicals company’s stock worth $526,000 after purchasing an additional 193 shares in the last quarter. Pinnacle Bancorp Inc. increased its stake in LyondellBasell Industries by 26.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 199 shares in the last quarter. Ipsen Advisor Group LLC raised its holdings in LyondellBasell Industries by 2.4% during the first 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 last quarter. Moody National Bank Trust Division raised its holdings in LyondellBasell Industries by 4.7% during the third quarter. Moody National Bank Trust Division now owns 6,116 shares of the specialty chemicals company’s stock worth $351,000 after buying an additional 275 shares during the last quarter. Finally, North Dakota State Investment Board lifted its stake in shares of LyondellBasell Industries by 3.7% in the third quarter. North Dakota State Investment Board now owns 7,900 shares of the specialty chemicals company’s stock valued at $454,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.