Wells Fargo & Company Issues Pessimistic Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB - Get Free Report) had its price objective reduced by equities researchers at Wells Fargo & Company from $80.00 to $60.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the specialty chemicals company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 4.68% from the company's previous close.

Several other equities research analysts also recently issued reports on ALB. Evercore ISI downgraded Albemarle from an "outperform" rating to an "inline" rating in a research report on Wednesday, February 5th. Clarkson Capital started coverage on Albemarle in a report on Tuesday, January 14th. They issued a "buy" rating and a $112.00 target price on the stock. BMO Capital Markets cut their price target on Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. UBS Group lowered their price objective on shares of Albemarle from $86.00 to $64.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Morgan Stanley cut their target price on shares of Albemarle from $73.00 to $68.00 and set an "underweight" rating for the company in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $98.70.

Albemarle Stock Up 1.1 %

Shares of ALB traded up $0.65 during trading hours on Wednesday, hitting $57.32. 2,745,454 shares of the company were exchanged, compared to its average volume of 2,697,693. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. The company has a market cap of $6.74 billion, a PE ratio of -5.12 and a beta of 1.59. The firm's 50 day moving average is $73.41 and its 200-day moving average is $88.53. Albemarle has a 52 week low of $49.43 and a 52 week high of $137.50.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. On average, equities research analysts forecast that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings in shares of Albemarle by 71.5% in the fourth quarter. Pacer Advisors Inc. now owns 14,948 shares of the specialty chemicals company's stock valued at $1,287,000 after buying an additional 6,234 shares during the period. Bristlecone Advisors LLC lifted its holdings in shares of Albemarle by 20.5% in the fourth quarter. Bristlecone Advisors LLC now owns 28,824 shares of the specialty chemicals company's stock valued at $2,481,000 after purchasing an additional 4,899 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Albemarle by 15.2% during the third quarter. Toronto Dominion Bank now owns 39,499 shares of the specialty chemicals company's stock worth $3,741,000 after buying an additional 5,197 shares during the period. Waldron Private Wealth LLC grew its holdings in shares of Albemarle by 172.1% during the fourth quarter. Waldron Private Wealth LLC now owns 6,405 shares of the specialty chemicals company's stock worth $554,000 after buying an additional 4,051 shares in the last quarter. Finally, Leibman Financial Services Inc. lifted its stake in Albemarle by 50.5% in the 4th quarter. Leibman Financial Services Inc. now owns 38,964 shares of the specialty chemicals company's stock valued at $3,354,000 after acquiring an additional 13,075 shares in 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.