Albemarle (NYSE:ALB) Given New $85.00 Price Target at Mizuho

Albemarle (NYSE:ALB) had its price target dropped by analysts at Mizuho from $90.00 to $85.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective indicates a potential upside of 9.89% from the company’s previous close.

Several other research analysts have also commented on the company. Scotiabank reduced their price target on Albemarle from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Royal Bank of Canada reduced their target price on Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Albemarle from $109.00 to $105.00 in a research report on Wednesday, February 12th. Truist Financial lowered their price target on Albemarle from $96.00 to $85.00 and set a “hold” rating for the company in a report on Friday, February 14th. Finally, UBS Group decreased their target price on Albemarle from $99.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Albemarle presently has a consensus rating of “Hold” and a consensus price target of $108.77.

Albemarle Stock Performance

Shares of ALB stock traded up $0.87 during trading hours on Friday, reaching $77.35. The company had a trading volume of 536,487 shares, compared to its average volume of 2,596,326. The business has a fifty day moving average price of $84.43 and a 200-day moving average price of $92.02. The firm has a market cap of $9.09 billion, a PE ratio of -6.91 and a beta of 1.70. Albemarle has a one year low of $67.23 and a one year high of $137.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share 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%. Sell-side analysts predict that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

Several large investors have recently added to or reduced their stakes in ALB. Quarry LP increased its position in shares of Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 252 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Albemarle by 340.6% in the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 235 shares during the period. Trust Co. of Vermont grew its stake in shares of Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 279 shares during the period. First Community Trust NA raised its position in shares of Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 142 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Albemarle during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Albemarle

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.