Albemarle (NYSE:ALB) Given New $85.00 Price Target at Citigroup

Albemarle (NYSE:ALB) had its price objective reduced by stock analysts at Citigroup from $115.00 to $85.00 in a research note issued to investors on Wednesday. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s target price indicates a potential upside of 11.01% from the stock’s current price.

ALB has been the topic of a number of other research reports. Mizuho decreased their price objective on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Truist Financial started coverage on shares of Albemarle in a research note on Tuesday, January 28th. They set a “hold” rating and a $96.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird increased their price objective on Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Finally, Oppenheimer dropped their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.50.

Albemarle Price Performance

Shares of NYSE:ALB traded up $0.87 during trading on Wednesday, reaching $76.57. The stock had a trading volume of 3,392,958 shares, compared to its average volume of 2,373,626. The stock has a market capitalization of $9.00 billion, a PE ratio of -4.57, a P/E/G ratio of 3.43 and a beta of 1.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. Albemarle has a 52 week low of $71.97 and a 52 week high of $143.19. The business’s 50-day moving average price is $90.52 and its 200 day moving average price is $92.59.

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

Insider Buying and Selling at Albemarle

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

Institutional Investors Weigh In On Albemarle

Several institutional investors have recently added to or reduced their stakes in ALB. AMF Tjanstepension AB acquired a new stake in shares of Albemarle in the 3rd quarter valued at about $692,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Albemarle in the 3rd quarter valued at approximately $76,000. Exchange Traded Concepts LLC lifted its stake in Albemarle by 32.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,817 shares of the specialty chemicals company’s stock valued at $172,000 after acquiring an additional 444 shares in the last quarter. Regatta Capital Group LLC boosted its position in Albemarle by 156.7% during the 3rd quarter. Regatta Capital Group LLC now owns 7,347 shares of the specialty chemicals company’s stock worth $696,000 after acquiring an additional 4,485 shares during the last quarter. Finally, Touchstone Capital Inc. grew its stake in shares of Albemarle by 6.1% during the 3rd quarter. Touchstone Capital Inc. now owns 55,111 shares of the specialty chemicals company’s stock worth $5,220,000 after acquiring an additional 3,162 shares in the last quarter. 92.87% of the stock is 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.