JPMorgan Chase & Co. Lowers Albemarle (NYSE:ALB) Price Target to $140.00

Key Points

• JPMorgan lowered Albemarle’s price target from $160 to $140 while maintaining a “neutral” rating, implying about 1.13% downside from the prior close.
• Analyst sentiment remains generally positive, with 15 Buy, 10 Hold, and 1 Sell rating; MarketBeat reports a “Moderate Buy” consensus and an average target price of $190.04.
• Albemarle reported stronger-than-expected quarterly results, posting $3.75 in EPS versus a $3.20 estimate and $1.74 billion in revenue, up 31.1% year over year.

Albemarle (NYSE:ALB - Get Free Report) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $160.00 to $140.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the specialty chemicals company's stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 1.13% from the company's previous close.

Other analysts also recently issued reports about the company. Morgan Stanley reiterated a "reduce" rating and set a $161.00 target price on shares of Albemarle in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Albemarle from $210.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Robert W. Baird dropped their price objective on Albemarle from $236.00 to $224.00 and set a "neutral" rating on the stock in a research report on Thursday, June 18th. Scotiabank reduced their price objective on Albemarle from $200.00 to $190.00 and set a "sector outperform" rating for the company in a report on Monday, August 10th. Finally, Berenberg Bank boosted their target price on Albemarle from $153.00 to $192.00 and gave the stock a "hold" rating in a research report on Tuesday, June 2nd. Fifteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Albemarle has an average rating of "Moderate Buy" and an average target price of $190.04.

Albemarle Trading Down 1.2%

Shares of NYSE ALB opened at $141.60 on Tuesday. The firm's 50 day moving average price is $131.49 and its 200-day moving average price is $160.50. The company has a market cap of $16.71 billion, a PE ratio of 524.46 and a beta of 1.33. Albemarle has a 52-week low of $71.25 and a 52-week high of $221.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The business's revenue for the quarter was up 31.1% on a year-over-year basis. On average, equities research analysts expect that Albemarle will post 11.63 EPS for the current fiscal year.

Institutional Trading of Albemarle

A number of hedge funds have recently bought and sold shares of ALB. Addison Advisors LLC purchased a new position in Albemarle in the second quarter worth about $28,000. BOKF NA increased its position in shares of Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company's stock valued at $33,000 after purchasing an additional 404 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of Albemarle in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock worth $36,000 after purchasing an additional 483 shares during the period. Finally, Torren Management LLC purchased a new position in shares of Albemarle in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company's bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world's foremost chemical producers.

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