Albemarle (NYSE:ALB) PT Lowered to $178.00 at Oppenheimer

Albemarle (NYSE:ALBGet Free Report) had its target price decreased by stock analysts at Oppenheimer from $188.00 to $178.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Oppenheimer’s price objective would indicate a potential upside of 83.69% from the stock’s current price.

Several other equities analysts have also issued reports on ALB. Robert W. Baird cut their target price on Albemarle from $170.00 to $127.00 and set an “outperform” rating on the stock in a research note on Tuesday. Loop Capital dropped their price target on Albemarle from $168.00 to $162.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. UBS Group dropped their price target on Albemarle from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, June 13th. Royal Bank of Canada restated an “outperform” rating and set a $157.00 price target on shares of Albemarle in a research note on Friday, May 24th. Finally, Berenberg Bank upgraded Albemarle from a “hold” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $160.00 in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Albemarle has a consensus rating of “Hold” and a consensus target price of $152.53.

Get Our Latest Analysis on Albemarle

Albemarle Stock Performance

ALB stock opened at $96.90 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91. The business has a 50-day moving average price of $114.32 and a 200 day moving average price of $120.84. The company has a market capitalization of $11.39 billion, a P/E ratio of 35.24, a PEG ratio of 2.99 and a beta of 1.57. Albemarle has a 1-year low of $90.32 and a 1-year high of $247.44.

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

Insider Buying and Selling at Albemarle

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALB. WFA Asset Management Corp purchased a new stake in shares of Albemarle during the first quarter worth approximately $25,000. USCF Advisers LLC increased its position in shares of Albemarle by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Albemarle during the fourth quarter worth approximately $30,000. Jones Financial Companies Lllp increased its position in shares of Albemarle by 2,942.9% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 206 shares in the last quarter. Finally, VisionPoint Advisory Group LLC increased its position in shares of Albemarle by 21,400.0% during the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 214 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

About Albemarle

(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.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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