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

Albemarle (NYSE:ALB) had its target price lowered by analysts at UBS Group from $86.00 to $64.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target indicates a potential upside of 10.14% from the stock’s current price.

Several other equities research analysts have also commented on ALB. Piper Sandler dropped their price target on Albemarle from $90.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Clarkson Capital started coverage on Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 target price on the stock. Morgan Stanley reduced their price target on Albemarle from $73.00 to $68.00 and set an “underweight” rating for the company in a report on Tuesday, February 18th. BMO Capital Markets dropped their price objective on Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Albemarle from $109.00 to $105.00 in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $103.20.

Albemarle Price Performance

Albemarle stock traded down $0.40 during midday trading on Monday, reaching $58.11. The company’s stock had a trading volume of 5,068,403 shares, compared to its average volume of 2,638,547. 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 has a fifty-two week low of $55.13 and a fifty-two week high of $137.50. The firm has a market capitalization of $6.84 billion, a PE ratio of -5.21 and a beta of 1.59. The stock’s 50 day simple moving average is $77.46 and its 200 day simple moving average is $90.17.

Albemarle (NYSE:ALB) last released 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%. On average, equities research analysts forecast that Albemarle will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Assetmark Inc. lifted its position in shares of Albemarle by 340.6% during the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 235 shares during the last quarter. Trust Co. of Vermont boosted 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 in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Albemarle by 50.4% during the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 132 shares during the last quarter. Finally, First Community Trust NA increased its stake in Albemarle by 55.0% in the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 142 shares in the last quarter. 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.