Albemarle (NYSE:ALB) Price Target Raised to $133.00 at Royal Bank of Canada

Albemarle (NYSE:ALB) had its price target increased by analysts at Royal Bank of Canada from $108.00 to $133.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 25.60% from the company’s current price.

ALB has been the subject of a number of other reports. Bank of America decreased their price target on Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Mizuho reduced their price objective on shares of Albemarle from $128.00 to $103.00 in a research report on Wednesday, July 31st. Evercore ISI dropped their target price on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft decreased their price target on Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 16th. Finally, Oppenheimer decreased their target price on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Albemarle has an average rating of “Hold” and a consensus target price of $114.47.

Albemarle Price Performance

Shares of NYSE:ALB traded down $4.60 during trading on Tuesday, reaching $105.89. The company had a trading volume of 461,585 shares, compared to its average volume of 2,963,687. The firm’s fifty day moving average is $93.76 and its 200 day moving average is $100.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.75 and a current ratio of 2.44. The firm has a market capitalization of $12.45 billion, a PE ratio of -6.29 and a beta of 1.55. Albemarle has a twelve month low of $71.97 and a twelve month high of $153.54.

Hedge Funds Weigh In On Albemarle

Hedge funds have recently bought and sold shares of the business. First Community Trust NA bought a new stake in shares of Albemarle during the 2nd quarter worth about $25,000. CVA Family Office LLC boosted its holdings in shares of Albemarle by 610.0% during the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 244 shares during the period. Eastern Bank bought a new position in Albemarle in the 3rd quarter worth $31,000. Cromwell Holdings LLC lifted its position in Albemarle by 61.9% during the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares during the last quarter. Finally, Cornerstone Advisors LLC lifted its position in Albemarle by 100.0% during the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

About Albemarle

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.