Albemarle (NYSE:ALB – Get Free Report) had its price target dropped by research analysts at Rothschild & Co Redburn from $100.00 to $86.00 in a report issued on Wednesday. Rothschild & Co Redburn‘s target price would suggest a potential downside of 8.28% from the company’s current price.
A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada reduced their price objective on shares of Albemarle from $129.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, November 6th. Barclays dropped their target price on Albemarle from $109.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, November 6th. Argus cut their price target on Albemarle from $230.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Morgan Stanley cut their price target on Albemarle from $161.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, UBS Group reduced their price target on Albemarle from $150.00 to $137.00 and set a “buy” rating for the company in a research report on Monday. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Albemarle currently has a consensus rating of “Moderate Buy” and an average target price of $160.91.
Read Our Latest Research Report on Albemarle
Albemarle Price Performance
ALB stock traded down $1.09 during trading on Wednesday, hitting $93.76. 656,810 shares of the company’s stock traded hands, compared to its average volume of 2,457,325. Albemarle has a 52 week low of $89.77 and a 52 week high of $221.00. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 0.60 and a beta of 1.34. The business has a fifty day simple moving average of $104.38 and a 200 day simple moving average of $146.06. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.57 and a current ratio of 2.34.
Albemarle (NYSE:ALB – Get Free Report) last posted its earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Albemarle had a net margin of 10.40% and a return on equity of 14.91%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) EPS. As a group, research analysts expect that Albemarle will post 10.70 EPS for the current fiscal year.
Hedge Funds Weigh In On Albemarle
A number of large investors have recently bought and sold shares of ALB. Addison Advisors LLC purchased a new stake in shares of Albemarle during the second quarter worth $28,000. Valley National Advisers Inc. lifted its stake in shares of Albemarle by 3,700.0% in the third quarter. Valley National Advisers Inc. now owns 304 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 296 shares in the last quarter. NFSG Corp lifted its stake in shares of Albemarle by 470.0% in the third quarter. NFSG Corp now owns 342 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 282 shares in the last quarter. Fiduciary Financial Advisors purchased a new position in shares of Albemarle in the second quarter worth about $41,000. Finally, Jones Financial Companies Lllp acquired a new position in Albemarle during the second quarter worth about $42,000. Institutional investors and hedge funds own 92.87% of the company’s stock.
Albemarle Company Profile
Albemarle Corporation is a specialty chemicals company that produces lithium, bromine and refining catalysts. Its products serve industries including energy storage, transportation, electronics, petroleum refining and pharmaceuticals. The company supplies lithium compounds used in rechargeable batteries and other applications. It also makes bromine-based products for uses such as flame retardants and water treatment, along with catalysts used in refining petroleum. Albemarle traces its history to 1887 and is headquartered in Charlotte, North Carolina.
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