Albemarle (NYSE:ALB) had its target price lowered by analysts at Royal Bank of Canada to $83.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 28.78% from the stock’s current price.
A number of other equities research analysts have also recently commented on ALB. Loop Capital lowered their price objective on shares of Albemarle to $108.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. SunTrust Banks cut their price objective on shares of Albemarle from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Credit Suisse Group set a $106.00 price objective on shares of Albemarle and gave the stock a “buy” rating in a report on Friday, August 9th. Oppenheimer cut their price target on shares of Albemarle from $157.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, ValuEngine upgraded shares of Albemarle from a “strong sell” rating to a “sell” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $93.61.
Shares of ALB stock traded down $4.00 during trading on Wednesday, reaching $64.45. The company’s stock had a trading volume of 1,291,055 shares, compared to its average volume of 1,471,913. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.35. The firm has a market cap of $7.45 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 0.72 and a beta of 1.59. The company has a 50-day simple moving average of $71.16. Albemarle has a 1-year low of $63.10 and a 1-year high of $108.74.
Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.14. The business had revenue of $885.05 million during the quarter, compared to the consensus estimate of $893.50 million. Albemarle had a net margin of 16.01% and a return on equity of 15.71%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 EPS. Sell-side analysts anticipate that Albemarle will post 6.37 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the business. Icon Wealth Partners LLC bought a new stake in shares of Albemarle during the first quarter worth $25,000. Alpha Omega Wealth Management LLC increased its holdings in shares of Albemarle by 125.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 360 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Gemmer Asset Management LLC increased its holdings in shares of Albemarle by 71.1% in the second quarter. Gemmer Asset Management LLC now owns 361 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 150 shares in the last quarter. NEXT Financial Group Inc increased its holdings in shares of Albemarle by 71.1% in the second quarter. NEXT Financial Group Inc now owns 433 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 180 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new position in shares of Albemarle during the second quarter worth about $32,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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