KeyCorp Lowers Albemarle (NYSE:ALB) Price Target to $151.00

Albemarle (NYSE:ALBGet Free Report) had its target price cut by analysts at KeyCorp from $159.00 to $151.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price target points to a potential upside of 66.92% from the stock’s previous close.

ALB has been the topic of a number of other research reports. Mizuho upped their price target on Albemarle from $112.00 to $128.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Robert W. Baird lowered their price target on Albemarle from $170.00 to $127.00 and set an “outperform” rating on the stock in a report on Tuesday. Berenberg Bank raised Albemarle from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $160.00 in a research note on Thursday, April 11th. Oppenheimer reduced their target price on Albemarle from $188.00 to $178.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $135.00 target price (down previously from $150.00) on shares of Albemarle in a research note on Tuesday, May 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $152.53.

Check Out Our Latest Analysis on ALB

Albemarle Stock Performance

NYSE ALB opened at $90.46 on Wednesday. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.99 and a beta of 1.57. The company has a current ratio of 2.84, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $114.76 and its two-hundred day moving average is $121.00. Albemarle has a 12-month low of $90.32 and a 12-month high of $247.44.

Albemarle (NYSE:ALBGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The business’s revenue was down 47.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.32 EPS. Research analysts expect that Albemarle will post 2.07 EPS for the current year.

Insider Transactions at Albemarle

In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $132.17, for a total value of $194,950.75. Following the transaction, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at $626,882.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $132.17, for a total value of $194,950.75. Following the transaction, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at $626,882.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the sale, the senior vice president now directly owns 6,802 shares in the company, valued at approximately $921,875.06. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Albemarle

A number of hedge funds have recently made changes to their positions in the business. CVA Family Office LLC raised its holdings in shares of Albemarle by 610.0% during the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 244 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of Albemarle by 47.8% during the second quarter. Kingswood Wealth Advisors LLC now owns 5,595 shares of the specialty chemicals company’s stock valued at $534,000 after acquiring an additional 1,809 shares during the period. Marion Wealth Management increased its stake in shares of Albemarle by 12.6% during the second quarter. Marion Wealth Management now owns 11,123 shares of the specialty chemicals company’s stock valued at $1,062,000 after acquiring an additional 1,243 shares during the period. Lynx Investment Advisory acquired a new position in shares of Albemarle during the second quarter valued at approximately $46,000. Finally, Mather Group LLC. increased its stake in shares of Albemarle by 25.3% during the second quarter. Mather Group LLC. now owns 1,155 shares of the specialty chemicals company’s stock valued at $110,000 after acquiring an additional 233 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Albemarle (NYSE:ALB)

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