KeyCorp Lowers Albemarle (NYSE:ALB) Price Target to $127.00

Albemarle (NYSE:ALB) had its price target dropped by analysts at KeyCorp from $132.00 to $127.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price points to a potential upside of 14.94% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Scotiabank dropped their price target on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their price target on shares of Albemarle from $128.00 to $111.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Piper Sandler dropped their price target on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Bank of America dropped their price target on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Evercore ISI dropped their price target on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.32.

Albemarle Trading Up 9.6 %

NYSE:ALB opened at $110.49 on Tuesday. Albemarle has a 12 month low of $71.97 and a 12 month high of $153.54. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of -6.60 and a beta of 1.55. The company has a quick ratio of 1.75, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $93.76 and its 200-day moving average is $100.24.

Hedge Funds Weigh In On Albemarle

Institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in shares of Albemarle in the 1st quarter worth approximately $202,000. SG Americas Securities LLC raised its position in Albemarle by 3.5% in the 1st quarter. SG Americas Securities LLC now owns 15,835 shares of the specialty chemicals company’s stock valued at $2,086,000 after purchasing an additional 540 shares during the last quarter. Atomi Financial Group Inc. bought a new position in Albemarle in the 1st quarter valued at $275,000. Russell Investments Group Ltd. raised its position in Albemarle by 25.6% in the 1st quarter. Russell Investments Group Ltd. now owns 215,651 shares of the specialty chemicals company’s stock valued at $28,047,000 after purchasing an additional 43,906 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in Albemarle by 14.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 8,379 shares of the specialty chemicals company’s stock valued at $1,104,000 after purchasing an additional 1,089 shares during 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.