Albemarle (NYSE:ALB – Get Rating) had its target price upped by equities research analysts at KeyCorp from $215.00 to $217.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an “underweight” rating on the specialty chemicals company’s stock. KeyCorp’s price target points to a potential downside of 10.68% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of Albemarle from a “c+” rating to a “b” rating in a research report on Wednesday, May 4th. HSBC upgraded shares of Albemarle from a “hold” rating to a “buy” rating and lifted their price target for the company from $250.00 to $280.00 in a research report on Wednesday, January 26th. Zacks Investment Research downgraded shares of Albemarle from a “strong-buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Monday, February 21st. Wells Fargo & Company upgraded shares of Albemarle from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $215.00 to $285.00 in a research report on Wednesday, May 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $290.00 price objective on shares of Albemarle in a research note on Monday, May 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $275.40.
NYSE ALB opened at $242.94 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 0.33. Albemarle has a 52-week low of $154.23 and a 52-week high of $291.48. The business’s 50-day moving average price is $213.56 and its 200 day moving average price is $224.60. The firm has a market cap of $28.45 billion, a P/E ratio of 102.08, a P/E/G ratio of 0.84 and a beta of 1.55.
Hedge funds have recently bought and sold shares of the company. Kozak & Associates Inc. acquired a new stake in shares of Albemarle in the third quarter valued at about $27,000. Salem Investment Counselors Inc. grew its stake in Albemarle by 127.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 70 shares in the last quarter. City State Bank acquired a new stake in Albemarle during the 4th quarter valued at approximately $29,000. Lowe Wealth Advisors LLC acquired a new stake in Albemarle during the 1st quarter valued at approximately $28,000. Finally, Covestor Ltd grew its stake in Albemarle by 51.2% during the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.
Albemarle Company Profile (Get Rating)
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
- Get a free copy of the StockNews.com research report on Albemarle (ALB)
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