Albemarle (NYSE:ALB) Price Target Lowered to $60.00 at JPMorgan Chase & Co.

Albemarle (NYSE:ALB - Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $80.00 to $60.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the specialty chemicals company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 3.72% from the company's previous close.

A number of other research analysts have also recently commented on ALB. TD Securities reduced their target price on Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Citigroup decreased their price objective on Albemarle from $85.00 to $64.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. KeyCorp cut their target price on Albemarle from $102.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Scotiabank decreased their price target on shares of Albemarle from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 18th. Finally, Robert W. Baird lowered their price objective on shares of Albemarle from $77.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $92.43.

Albemarle Price Performance

NYSE:ALB traded up $0.41 during trading hours on Tuesday, hitting $57.85. The stock had a trading volume of 295,990 shares, compared to its average volume of 2,752,822. The company has a 50 day simple moving average of $64.91 and a two-hundred day simple moving average of $83.24. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -5.17 and a beta of 1.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19. Albemarle has a one year low of $49.43 and a one year high of $137.50.

Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.62) by $0.44. Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $0.26 EPS. The company's quarterly revenue was down 20.9% compared to the same quarter last year. Research analysts forecast that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

A number of institutional investors have recently modified their holdings of ALB. MassMutual Private Wealth & Trust FSB boosted its stake in Albemarle by 48.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company's stock worth $36,000 after purchasing an additional 136 shares in the last quarter. First Community Trust NA lifted its stake 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 worth $34,000 after buying an additional 142 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Albemarle by 3.9% during the fourth quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company's stock valued at $336,000 after buying an additional 148 shares during the last quarter. SlateStone Wealth LLC increased its position in shares of Albemarle by 3.3% during the fourth quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company's stock valued at $401,000 after acquiring an additional 150 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Albemarle by 5.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,982 shares of the specialty chemicals company's stock worth $257,000 after acquiring an additional 158 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other 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.