Albemarle (NYSE:ALB) Stock Price Target Cut by UBS Group

Albemarle (NYSE:ALB) had its price objective lowered by UBS Group from $150.00 to $137.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group‘s price objective would indicate a potential upside of 38.44% from the stock’s previous close.

Several other research firms have also recently issued reports on ALB. Citigroup upped their price target on Albemarle from $125.00 to $140.00 and gave the company a “buy” rating in a report on Monday. Zacks Research lowered Albemarle from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Truist Financial restated a “buy” rating and issued a $170.00 target price (down from $185.00) on shares of Albemarle in a report on Friday. Morgan Stanley cut their target price on Albemarle from $161.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Royal Bank Of Canada reduced their target price on Albemarle from $129.00 to $119.00 and set an “outperform” rating for the company in a report on Friday. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.05.

Albemarle Stock Down 0.3%

Shares of NYSE:ALB traded down $0.29 during trading on Monday, hitting $98.96. 2,409,624 shares of the company were exchanged, compared to its average volume of 2,471,920. The firm’s 50 day moving average price is $107.59 and its 200-day moving average price is $147.87. The stock has a market capitalization of $11.68 billion, a P/E ratio of 23.90, a PEG ratio of 0.59 and a beta of 1.34. Albemarle has a 12-month low of $89.77 and a 12-month high of $221.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.34 and a quick ratio of 1.57.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Albemarle had a net margin of 10.40% and a return on equity of 14.91%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted ($0.19) EPS. The business’s revenue was up 18.8% compared to the same quarter last year. On average, research analysts predict that Albemarle will post 11.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALB. Sigma Planning Corp lifted its position in shares of Albemarle by 2.3% during the 1st quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company’s stock valued at $530,000 after acquiring an additional 66 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Albemarle by 0.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,452 shares of the specialty chemicals company’s stock worth $4,928,000 after buying an additional 75 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Albemarle by 0.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,664 shares of the specialty chemicals company’s stock valued at $2,082,000 after buying an additional 75 shares during the last quarter. Cadence Wealth Management LLC grew its position in shares of Albemarle by 1.8% in the 1st quarter. Cadence Wealth Management LLC now owns 4,982 shares of the specialty chemicals company’s stock valued at $894,000 after buying an additional 87 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Albemarle by 7.0% in the second quarter. Parkside Financial Bank & Trust now owns 1,584 shares of the specialty chemicals company’s stock valued at $214,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Albemarle

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.