Vertical Group Lowers Albemarle (NYSE:ALB) Price Target to $39.50

Albemarle (NYSE:ALB) had its price objective dropped by research analysts at Vertical Group from $58.50 to $39.50 in a report released on Wednesday, The Fly reports. Vertical Group’s price target suggests a potential downside of 38.71% from the company’s current price.

A number of other research firms have also commented on ALB. SunTrust Banks lowered their price objective on Albemarle from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada lowered their price objective on Albemarle to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday. Oppenheimer lowered their price objective on Albemarle from $157.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. TheStreet lowered Albemarle from a “b-” rating to a “c+” rating in a research note on Monday, May 20th. Finally, Berenberg Bank set a $75.00 price objective on Albemarle and gave the stock a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Albemarle currently has a consensus rating of “Hold” and an average price target of $93.61.

Albemarle stock traded down $4.00 during mid-day trading on Wednesday, reaching $64.45. 1,291,055 shares of the company were exchanged, compared to its average volume of 1,471,913. The firm’s fifty day simple moving average is $71.16. Albemarle has a 12 month low of $63.10 and a 12 month high of $108.74. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.72 and a beta of 1.59.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, August 7th. The specialty chemicals company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.14. Albemarle had a return on equity of 15.71% and a net margin of 16.01%. The firm had revenue of $885.05 million for the quarter, compared to analyst estimates of $893.50 million. During the same quarter last year, the company earned $1.36 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Albemarle will post 6.37 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Rehmann Capital Advisory Group grew its position in Albemarle by 3,087.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 255 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 247 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in Albemarle during the 1st quarter worth $25,000. Gemmer Asset Management LLC grew its position in Albemarle by 71.1% during the 2nd 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 during the last quarter. Proficio Capital Partners LLC grew its position in Albemarle by 143.1% during the 4th quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 206 shares during the last quarter. Finally, Pinnacle Bank bought a new stake in Albemarle during the 4th quarter worth $27,000. Institutional investors own 89.43% of the company’s stock.

Albemarle Company Profile

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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