Albemarle (NYSE:ALB) Stock Rating Lowered by Wall Street Zen

Albemarle (NYSE:ALB) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

ALB has been the topic of several other research reports. UBS Group decreased their price target on shares of Albemarle from $205.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Mizuho reduced their target price on Albemarle from $205.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Morgan Stanley reiterated a “reduce” rating and issued a $161.00 target price on shares of Albemarle in a research report on Monday, August 10th. Truist Financial dropped their price target on Albemarle from $245.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Robert W. Baird reduced their price objective on Albemarle from $236.00 to $224.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.26.

Albemarle Trading Down 0.1%

Shares of ALB opened at $136.07 on Friday. The firm has a market cap of $16.06 billion, a P/E ratio of 504.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.09 and a quick ratio of 1.35. Albemarle has a 1 year low of $71.25 and a 1 year high of $221.00. The company has a 50 day simple moving average of $134.05 and a two-hundred day simple moving average of $162.22.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, equities analysts expect that Albemarle will post 11.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

Several institutional investors have recently modified their holdings of the stock. Addison Advisors LLC bought a new position in shares of Albemarle during the 2nd quarter valued at approximately $28,000. BOKF NA lifted its position in Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 404 shares during the last quarter. Elyxium Wealth LLC bought a new stake in Albemarle in the fourth quarter worth $34,000. EverSource Wealth Advisors LLC boosted its stake in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 483 shares during the period. Finally, Torren Management LLC bought a new position in Albemarle during the fourth quarter valued at $38,000. 92.87% of the stock is owned by institutional investors.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.