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

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

Several other equities analysts have also issued reports on ALB. BMO Capital Markets decreased their price target on Albemarle from $150.00 to $140.00 in a research note on Wednesday, February 12th. Royal Bank of Canada lowered 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. Piper Sandler dropped their target price on shares of Albemarle from $90.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Truist Financial decreased their price target on shares of Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Finally, Citigroup dropped their price objective on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $103.20.

Albemarle Trading Down 13.1 %

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

Albemarle (NYSE:ALB) last issued its quarterly 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%. Analysts predict that Albemarle will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Albemarle

A number of hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in Albemarle by 15.9% during the 1st quarter. Rhumbline Advisers now owns 240,937 shares of the specialty chemicals company’s stock worth $17,352,000 after acquiring an additional 33,074 shares during the period. GAMMA Investing LLC grew its stake in Albemarle by 6,393.1% during the first quarter. GAMMA Investing LLC now owns 152,394 shares of the specialty chemicals company’s stock worth $10,975,000 after purchasing an additional 150,047 shares during the period. Moody National Bank Trust Division increased its holdings in Albemarle by 10.3% in the first quarter. Moody National Bank Trust Division now owns 3,730 shares of the specialty chemicals company’s stock worth $269,000 after purchasing an additional 347 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Albemarle by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company’s stock valued at $977,000 after buying an additional 188 shares during the period. Finally, Siemens Fonds Invest GmbH bought a new position in shares of Albemarle during the 4th quarter worth approximately $837,000. 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.