Scotiabank Has Lowered Expectations for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its target price lowered by equities researchers at Scotiabank from $85.00 to $75.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the specialty chemicals company’s stock. Scotiabank’s price target would suggest a potential downside of 10.38% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley decreased their target price on shares of Albemarle from $73.00 to $68.00 and set an “underweight” rating on the stock in a research report on Tuesday. BMO Capital Markets reduced their price target on shares of Albemarle from $150.00 to $140.00 in a research report on Wednesday, February 12th. Clarkson Capital began coverage on shares of Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 12th. Finally, Citigroup reduced their price target on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Two analysts have 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 MarketBeat.com, Albemarle has a consensus rating of “Hold” and an average target price of $109.91.

Albemarle Trading Up 3.1 %

Shares of NYSE ALB traded up $2.48 during midday trading on Tuesday, reaching $83.69. 2,636,642 shares of the stock were exchanged, compared to its average volume of 2,471,616. The stock has a 50 day moving average price of $88.52 and a 200-day moving average price of $92.22. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. Albemarle has a 52-week low of $71.97 and a 52-week high of $143.19. The company has a market capitalization of $9.84 billion, a P/E ratio of -5.00, a P/E/G ratio of 3.43 and a beta of 1.59.

Albemarle (NYSE:ALB) last released its earnings results 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 positive return on equity of 1.67% and a negative net margin of 28.80%. Equities research analysts expect that Albemarle will post -1.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the transaction, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. This represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALB. Quarry LP boosted its stake in Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 252 shares during the last quarter. Assetmark Inc. lifted its position in shares of Albemarle by 340.6% in the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 235 shares during the last quarter. Trust Co. of Vermont lifted its position in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 279 shares during the last quarter. Eastern Bank bought a new position in shares of Albemarle in the 3rd quarter worth about $31,000. Finally, First Community Trust NA lifted its position in shares of Albemarle by 55.0% in the 4th 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 during the last quarter. 92.87% of the stock is currently 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.