Albemarle (NYSE:ALB) Stock Rating Lowered by HSBC

Albemarle (NYSE:ALB) was downgraded by HSBC from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports.

ALB has been the topic of several other reports. BMO Capital Markets lowered their price objective on shares of Albemarle from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. They noted that the move was a valuation call. UBS Group lowered their price objective on shares of Albemarle from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of Albemarle from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $68.00 to $60.00 in a research report on Friday, November 8th. Deutsche Bank lowered their price objective on shares of Albemarle from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Buckingham Research lowered their price objective on shares of Albemarle from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $82.93.

Shares of NYSE:ALB opened at $81.65 on Wednesday. The company’s fifty day moving average price is $71.32 and its 200 day moving average price is $68.23. Albemarle has a 12 month low of $58.63 and a 12 month high of $93.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.82. The firm has a market capitalization of $8.58 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.67 and a beta of 1.67.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, November 6th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.04. Albemarle had a net margin of 16.27% and a return on equity of 15.94%. The firm had revenue of $879.70 million for the quarter, compared to analyst estimates of $883.67 million. During the same period last year, the business earned $1.31 EPS. Albemarle’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Albemarle will post 6.06 EPS for the current year.

In other news, CFO Scott Tozier sold 2,753 shares of Albemarle stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.56, for a total value of $197,004.68. Following the sale, the chief financial officer now owns 52,425 shares of the company’s stock, valued at $3,751,533. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Carnegie Capital Asset Management LLC raised its position in Albemarle by 2.0% during the third quarter. Carnegie Capital Asset Management LLC now owns 8,337 shares of the specialty chemicals company’s stock worth $580,000 after acquiring an additional 160 shares during the last quarter. Regent Investment Management LLC raised its position in Albemarle by 1.4% during the third quarter. Regent Investment Management LLC now owns 13,070 shares of the specialty chemicals company’s stock worth $909,000 after acquiring an additional 175 shares during the last quarter. Vectors Research Management LLC raised its position in Albemarle by 2.4% during the third quarter. Vectors Research Management LLC now owns 8,095 shares of the specialty chemicals company’s stock worth $563,000 after acquiring an additional 190 shares during the last quarter. HNP Capital LLC raised its position in Albemarle by 2.4% during the third quarter. HNP Capital LLC now owns 8,097 shares of the specialty chemicals company’s stock worth $544,000 after acquiring an additional 192 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in Albemarle by 21.8% during the third quarter. CENTRAL TRUST Co now owns 1,118 shares of the specialty chemicals company’s stock worth $77,000 after acquiring an additional 200 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Albemarle (NYSE:ALB)

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