Albemarle (NYSE:ALB) PT Lowered to $39.50

Albemarle (NYSE:ALB) had its target price decreased by stock analysts at Vertical Group from $58.50 to $39.50 in a note issued to investors on Wednesday, The Fly reports. Vertical Group’s target price indicates a potential downside of 38.71% from the company’s current price.

ALB has been the topic of a number of other reports. SunTrust Banks cut their target price on Albemarle from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Loop Capital cut their target price on Albemarle to $108.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada cut their target price on Albemarle to $83.00 and set an “outperform” rating on the stock in a report on Wednesday. Oppenheimer cut their target price on Albemarle from $157.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, TheStreet cut Albemarle from a “b-” rating to a “c+” rating in a report on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $93.61.

Shares of Albemarle stock traded down $4.00 on Wednesday, reaching $64.45. 1,291,055 shares of the company’s stock were exchanged, compared to its average volume of 1,471,913. The firm has a market cap of $7.45 billion, a P/E ratio of 11.76, a P/E/G ratio of 0.72 and a beta of 1.59. Albemarle has a 52 week low of $63.10 and a 52 week high of $108.74. The business has a 50-day moving average price of $71.16. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.35.



Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.14. Albemarle had a return on equity of 15.71% and a net margin of 16.01%. The company had revenue of $885.05 million for the quarter, compared to analysts’ expectations of $893.50 million. During the same period last year, the business earned $1.36 EPS. Albemarle’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Albemarle will post 6.37 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of ALB. Sterling Capital Management LLC bought a new position in Albemarle during the 2nd quarter valued at $51,037,000. BlackRock Inc. lifted its stake in Albemarle by 9.0% during the 2nd quarter. BlackRock Inc. now owns 8,304,153 shares of the specialty chemicals company’s stock valued at $584,695,000 after acquiring an additional 682,231 shares in the last quarter. Invesco Ltd. lifted its stake in Albemarle by 51.8% during the 2nd quarter. Invesco Ltd. now owns 1,231,777 shares of the specialty chemicals company’s stock valued at $86,729,000 after acquiring an additional 420,273 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Albemarle by 27.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,720,253 shares of the specialty chemicals company’s stock valued at $141,028,000 after acquiring an additional 375,253 shares in the last quarter. Finally, AXA lifted its stake in Albemarle by 3,990.3% during the 2nd quarter. AXA now owns 357,616 shares of the specialty chemicals company’s stock valued at $25,180,000 after acquiring an additional 348,873 shares in the last quarter. Institutional investors and hedge funds own 89.43% of the company’s stock.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.

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The Fly

Analyst Recommendations for Albemarle (NYSE:ALB)

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