Albemarle (NYSE:ALB) Price Target Cut to $68.00 by Analysts at Morgan Stanley

Albemarle (NYSE:ALB) had its price objective reduced by Morgan Stanley from $73.00 to $68.00 in a report released on Tuesday,Benzinga reports. They currently have an underweight rating on the specialty chemicals company’s stock.

Several other research firms have also weighed in on ALB. Robert W. Baird reduced their target price on Albemarle from $103.00 to $92.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. KeyCorp reduced their target price on Albemarle from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reduced their target price on Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Clarkson Capital began coverage on Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 target price on the stock. Finally, Royal Bank of Canada reduced their target price on Albemarle from $133.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Albemarle presently has an average rating of “Hold” and a consensus target price of $109.91.

Albemarle Stock Up 3.1 %

Shares of Albemarle stock opened at $83.69 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle has a 12 month low of $71.97 and a 12 month high of $143.19. The business has a fifty day simple moving average of $88.11 and a 200 day simple moving average of $92.20. The stock has a market cap of $9.84 billion, a PE ratio of -5.00, a price-to-earnings-growth ratio of 3.43 and a beta of 1.59.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a positive return on equity of 1.67% and a negative net margin of 28.80%. Research analysts predict that Albemarle will post -1.55 EPS for the current year.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Several institutional investors and hedge funds have recently made changes to their positions in ALB. Quarry LP grew its position in shares of Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 252 shares during the last quarter. Assetmark Inc. grew its position in shares of Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 235 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Albemarle by 606.5% in the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 279 shares during the last quarter. Eastern Bank acquired a new position in shares of Albemarle in the third quarter valued at approximately $31,000. Finally, First Community Trust NA grew 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 last quarter. Institutional investors and hedge funds 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.