Albemarle (ALB) Downgraded to “Hold” at ValuEngine

Albemarle (NYSE:ALB) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued reports about the company. CIBC assumed coverage on Albemarle in a research note on Thursday, August 17th. They issued an “outperform” rating and a $133.00 price objective for the company. Jefferies Group reissued a “buy” rating on shares of Albemarle in a research note on Tuesday, October 24th. SunTrust Banks lowered Albemarle from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a report on Wednesday, August 9th. Royal Bank Of Canada upped their target price on Albemarle from $149.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Goldman Sachs Group lowered Albemarle from a “buy” rating to a “neutral” rating and upped their target price for the company from $139.66 to $142.00 in a report on Friday, October 6th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Albemarle currently has an average rating of “Buy” and an average price target of $128.45.

Shares of Albemarle (ALB) traded down $2.17 during trading on Friday, hitting $132.15. The stock had a trading volume of 1,240,091 shares, compared to its average volume of 1,234,781. The stock has a market capitalization of $14,602.05, a P/E ratio of 32.71, a PEG ratio of 2.00 and a beta of 1.70. Albemarle has a 12-month low of $84.37 and a 12-month high of $144.99. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $732.19 million. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. equities analysts expect that Albemarle will post 4.46 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in Albemarle by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 20 shares during the period. Thompson Davis & CO. Inc. grew its holdings in Albemarle by 650.0% during the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 650 shares during the period. Smithfield Trust Co. grew its holdings in Albemarle by 16.1% during the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 140 shares during the period. Highlander Capital Management LLC bought a new position in Albemarle during the second quarter valued at $106,000. Finally, Advisory Services Network LLC grew its holdings in Albemarle by 43.7% during the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after purchasing an additional 387 shares during the period. 87.85% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This story was posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/12/03/albemarle-alb-downgraded-to-hold-at-valuengine.html.

Albemarle Company Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply