Albemarle (NYSE:ALB) PT Lowered to $78.00

Albemarle (NYSE:ALB) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $115.00 to $78.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 7.46% from the stock’s previous close.

Other analysts also recently issued research reports about the company. KeyCorp decreased their target price on Albemarle from $151.00 to $132.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Oppenheimer dropped their target price on shares of Albemarle from $188.00 to $178.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. UBS Group cut their target price on shares of Albemarle from $124.00 to $109.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada dropped their price objective on shares of Albemarle from $128.00 to $111.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $122.60.

Albemarle Stock Up 1.8 %

Shares of Albemarle stock opened at $84.29 on Monday. Albemarle has a 12-month low of $71.97 and a 12-month high of $203.62. The stock has a market capitalization of $9.91 billion, a P/E ratio of 30.65, a PEG ratio of 3.48 and a beta of 1.57. The company has a quick ratio of 1.91, a current ratio of 2.67 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $92.37 and a two-hundred day moving average price of $112.11.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.49). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The business’s quarterly revenue was down 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.33 earnings per share. Equities analysts expect that Albemarle will post 1.67 earnings per share for the current year.

Hedge Funds Weigh In On Albemarle

Hedge funds have recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in shares of Albemarle in the 1st quarter valued at about $25,000. First Community Trust NA bought a new position in Albemarle in the second quarter valued at approximately $25,000. CVA Family Office LLC grew its holdings in Albemarle by 610.0% during the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 244 shares during the period. USCF Advisers LLC raised its position in shares of Albemarle by 100.0% during the 4th quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Albemarle by 2,942.9% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 206 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.