KeyCorp Has Lowered Expectations for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its target price lowered by investment analysts at KeyCorp from $95.00 to $87.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price indicates a potential upside of 24.16% from the company’s current price.

A number of other equities research analysts have also recently commented on ALB. Piper Sandler set a $68.00 price target on shares of Albemarle and gave the stock an “underweight” rating in a report on Wednesday, May 14th. TD Securities lowered their target price on Albemarle from $115.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Robert W. Baird dropped their price target on Albemarle from $77.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Citigroup decreased their price objective on Albemarle from $85.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, Scotiabank dropped their price objective on shares of Albemarle from $75.00 to $65.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Albemarle has an average rating of “Hold” and a consensus price target of $91.19.

Albemarle Stock Down 2.5%

Shares of NYSE:ALB opened at $70.07 on Monday. Albemarle has a 1 year low of $49.43 and a 1 year high of $113.91. The company has a market capitalization of $8.24 billion, a PE ratio of -6.30 and a beta of 1.63. The business has a fifty day moving average price of $61.71 and a two-hundred day moving average price of $70.24. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.11 and a quick ratio of 1.26.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.44. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.18 billion. Albemarle had a negative net margin of 22.39% and a negative return on equity of 1.92%. The firm’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. Analysts forecast that Albemarle will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Albemarle

A number of institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its holdings in shares of Albemarle by 340.6% during the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 235 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Albemarle in the fourth quarter valued at approximately $3,816,000. Sequoia Financial Advisors LLC lifted its position in Albemarle by 5.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,187 shares of the specialty chemicals company’s stock valued at $360,000 after purchasing an additional 230 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Albemarle by 81.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 17,019 shares of the specialty chemicals company’s stock worth $1,465,000 after buying an additional 7,629 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in Albemarle by 36.4% in the 4th quarter. Natixis Advisors LLC now owns 78,864 shares of the specialty chemicals company’s stock worth $6,789,000 after buying an additional 21,031 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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.