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

Albemarle (NYSE:ALB) had its target price reduced by KeyCorp from $132.00 to $127.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price target indicates a potential upside of 14.94% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Bank of America reduced their price objective on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Evercore ISI reduced their price objective on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. HSBC lowered shares of Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a research report on Wednesday, July 17th. Royal Bank of Canada reduced their price objective on shares of Albemarle from $128.00 to $111.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Finally, Robert W. Baird reduced their price objective on shares of Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $113.32.

Albemarle Stock Performance

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

Institutional Trading of Albemarle

Institutional investors have recently made changes to their positions in the stock. First Community Trust NA acquired a new stake in shares of Albemarle during the second quarter worth approximately $25,000. CVA Family Office LLC lifted its stake in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 244 shares during the last quarter. Eastern Bank acquired a new stake in Albemarle in the third quarter valued at approximately $31,000. Cromwell Holdings LLC lifted its stake in Albemarle by 61.9% in the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 148 shares during the last quarter. Finally, Cornerstone Advisors LLC lifted its stake in Albemarle by 100.0% in the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. 92.87% of the stock is currently 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.