Albemarle (NYSE:ALB) Price Target Cut to $102.00 by Analysts at KeyCorp

Albemarle (NYSE:ALB) had its price target cut by KeyCorp from $122.00 to $102.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price objective indicates a potential upside of 75.00% from the company’s current price.

A number of other brokerages also recently commented on ALB. Piper Sandler lowered their price objective on shares of Albemarle from $90.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company reduced their target price on Albemarle from $80.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft cut their price objective on Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Scotiabank reduced their price target on shares of Albemarle from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Finally, Clarkson Capital began coverage on Albemarle in a research note on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Albemarle currently has an average rating of “Hold” and an average target price of $98.70.

Albemarle Trading Up 2.9 %

Shares of Albemarle stock opened at $58.29 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of -5.15 and a beta of 1.59. Albemarle has a twelve month low of $49.43 and a twelve month high of $137.50. The business has a 50-day moving average price of $73.41 and a 200-day moving average price of $88.53.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. Equities research analysts anticipate that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Trading of Albemarle

A number of large investors have recently made changes to their positions in ALB. Pacer Advisors Inc. increased its position in Albemarle by 71.5% during the fourth quarter. Pacer Advisors Inc. now owns 14,948 shares of the specialty chemicals company’s stock worth $1,287,000 after buying an additional 6,234 shares during the period. Bristlecone Advisors LLC increased its stake in Albemarle by 20.5% in the fourth quarter. Bristlecone Advisors LLC now owns 28,824 shares of the specialty chemicals company’s stock valued at $2,481,000 after purchasing an additional 4,899 shares during the period. Toronto Dominion Bank raised its holdings in shares of Albemarle by 15.2% in the third quarter. Toronto Dominion Bank now owns 39,499 shares of the specialty chemicals company’s stock valued at $3,741,000 after buying an additional 5,197 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in shares of Albemarle by 172.1% during the fourth quarter. Waldron Private Wealth LLC now owns 6,405 shares of the specialty chemicals company’s stock worth $554,000 after buying an additional 4,051 shares during the last quarter. Finally, Leibman Financial Services Inc. increased its position in Albemarle by 50.5% in the 4th quarter. Leibman Financial Services Inc. now owns 38,964 shares of the specialty chemicals company’s stock valued at $3,354,000 after acquiring an additional 13,075 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.