UBS Group Lowers Albemarle (NYSE:ALB) Price Target to $64.00

Albemarle (NYSE:ALB) had its price target reduced by analysts at UBS Group from $86.00 to $64.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price objective suggests a potential upside of 26.83% from the stock’s previous close.

ALB has been the topic of several other research reports. Evercore ISI cut Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday, February 5th. Truist Financial cut their price objective on shares of Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Piper Sandler decreased their target price on shares of Albemarle from $90.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Citigroup cut their price target on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, BMO Capital Markets decreased their price objective on Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $103.20.

Albemarle Price Performance

NYSE ALB opened at $50.46 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of -4.51 and a beta of 1.59. The business has a 50 day simple moving average of $75.41 and a 200 day simple moving average of $89.43. Albemarle has a 52-week low of $49.43 and a 52-week high of $137.50.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. Analysts anticipate that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Albemarle

Hedge funds have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its position in Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 132 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Albemarle by 48.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 136 shares in the last quarter. First Community Trust NA increased its position in Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 142 shares during the period. Metis Global Partners LLC raised its stake in Albemarle by 3.9% in the 4th quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company’s stock worth $336,000 after purchasing an additional 148 shares in the last quarter. Finally, SlateStone Wealth LLC boosted its holdings in Albemarle by 3.3% in the 4th quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company’s stock valued at $401,000 after purchasing an additional 150 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

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.