Albemarle (NYSE:ALB) Price Target Cut to $86.00 by Analysts at Rothschild & Co Redburn

Albemarle (NYSE:ALB) had its target price lowered by Rothschild & Co Redburn from $100.00 to $86.00 in a report released on Wednesday. Rothschild & Co Redburn‘s target price points to a potential downside of 8.28% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Scotiabank reduced their target price on shares of Albemarle from $190.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Monday. Argus dropped their price target on shares of Albemarle from $230.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. JPMorgan Chase & Co. cut their price objective on shares of Albemarle from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, August 25th. Wall Street Zen lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Citigroup boosted their target price on shares of Albemarle from $125.00 to $140.00 and gave the company a “buy” rating in a report on Monday. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.91.

Albemarle Price Performance

Albemarle stock traded down $1.09 during mid-day trading on Wednesday, reaching $93.76. The company had a trading volume of 656,810 shares, compared to its average volume of 2,457,325. Albemarle has a fifty-two week low of $89.77 and a fifty-two week high of $221.00. The company has a current ratio of 2.34, a quick ratio of 1.57 and a debt-to-equity ratio of 0.21. The company has a market cap of $11.06 billion, a P/E 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.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Albemarle had a return on equity of 14.91% and a net margin of 10.40%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company posted ($0.19) EPS. The business’s revenue was up 18.8% on a year-over-year basis. On average, equities research analysts predict that Albemarle will post 10.70 earnings per share for the current year.

Institutional Trading of Albemarle

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Addison Advisors LLC bought a new stake in shares of Albemarle during the 2nd quarter valued at $28,000. Dakota Community Bank & Trust NA purchased a new stake in Albemarle in the 1st quarter worth $54,000. Fiduciary Financial Advisors purchased a new stake in Albemarle in the 2nd quarter worth $41,000. Valley National Advisers Inc. raised its holdings in Albemarle by 3,700.0% during the third quarter. Valley National Advisers Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 296 shares during the period. Finally, Jones Financial Companies Lllp bought a new stake in Albemarle during the second quarter valued at about $42,000. Hedge funds and other institutional investors 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.