Albemarle (NYSE:ALB) Price Target Lowered to $79.00 at Robert W. Baird

Albemarle (NYSE:ALB) had its price objective dropped by research analysts at Robert W. Baird from $85.00 to $79.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Robert W. Baird’s price objective would suggest a potential downside of 15.52% from the stock’s current price.

ALB has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 16th. Scotiabank cut their price target on Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company lifted their price objective on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Mizuho dropped their target price on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Finally, Citigroup reduced their price target on Albemarle from $137.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $117.30.

Albemarle Stock Performance

NYSE ALB opened at $93.51 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.75. Albemarle has a 1-year low of $71.97 and a 1-year high of $153.54. The company has a market cap of $10.99 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 13.81 and a beta of 1.54. The stock’s 50 day simple moving average is $91.35 and its 200-day simple moving average is $101.77.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.49). Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted $7.33 EPS. The company’s revenue for the quarter was down 39.7% on a year-over-year basis. As a group, equities research analysts anticipate that Albemarle will post 0.46 EPS for the current fiscal year.

Institutional Trading of Albemarle

A number of large investors have recently modified their holdings of the stock. WFA Asset Management Corp purchased a new stake in Albemarle during the 1st quarter worth about $25,000. First Community Trust NA purchased a new stake in shares of Albemarle during the second quarter worth approximately $25,000. CVA Family Office LLC raised its holdings in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 244 shares in the last quarter. Eastern Bank purchased a new position in Albemarle in the third quarter worth approximately $31,000. Finally, Eagle Bay Advisors LLC grew its holdings in Albemarle by 45.0% during the 1st quarter. Eagle Bay Advisors LLC now owns 332 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.