Albemarle (NYSE:ALB) Given New $133.00 Price Target at Royal Bank of Canada

Albemarle (NYSE:ALB) had its price objective raised by equities researchers at Royal Bank of Canada from $108.00 to $133.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 25.60% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Piper Sandler decreased their target price on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Evercore ISI dropped their price target 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. Mizuho cut their price target on shares of Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. Finally, HSBC lowered Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price objective on the stock. in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Albemarle has an average rating of “Hold” and an average price target of $114.47.

Albemarle Stock Performance

Shares of NYSE ALB traded down $4.60 during mid-day trading on Tuesday, hitting $105.89. The company had a trading volume of 461,585 shares, compared to its average volume of 2,963,687. Albemarle has a 12 month low of $71.97 and a 12 month high of $153.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.75. The firm has a market cap of $12.45 billion, a P/E ratio of -6.29 and a beta of 1.55. The business’s 50-day simple moving average is $93.76 and its 200-day simple moving average is $100.24.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALB. John G Ullman & Associates Inc. lifted its position in Albemarle by 108.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 53,129 shares of the specialty chemicals company’s stock valued at $5,032,000 after purchasing an additional 27,604 shares during the period. Landscape Capital Management L.L.C. boosted its stake in Albemarle by 9.7% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 5,004 shares of the specialty chemicals company’s stock worth $474,000 after acquiring an additional 441 shares during the last quarter. Primecap Management Co. CA grew its holdings in Albemarle by 0.5% during the third quarter. Primecap Management Co. CA now owns 3,833,984 shares of the specialty chemicals company’s stock valued at $363,117,000 after purchasing an additional 20,930 shares during the period. Cornerstone Advisors LLC increased 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 purchasing an additional 200 shares in the last quarter. Finally, Grandfield & Dodd LLC raised its holdings in Albemarle by 13.1% in the third quarter. Grandfield & Dodd LLC now owns 228,202 shares of the specialty chemicals company’s stock worth $21,613,000 after purchasing an additional 26,352 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.