Albemarle (NYSE:ALB) Price Target Raised to $135.00

by · The Cerbat Gem

Albemarle (NYSE:ALB – Get Free Report) had its price target lifted by research analysts at Berenberg Bank from $75.00 to $135.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has a “hold” rating on the specialty chemicals company’s stock. Berenberg Bank’s price objective suggests a potential downside of 13.30% from the company’s current price.

ALB has been the topic of a number of other reports. Jefferies Financial Group reiterated a “buy” rating and set a $167.00 target price on shares of Albemarle in a report on Monday. Evercore ISI lifted their price objective on shares of Albemarle from $88.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, November 11th. Argus increased their target price on Albemarle from $120.00 to $140.00 and gave the company a “buy” rating in a report on Monday, November 17th. Baird R W raised Albemarle from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Albemarle from $110.00 to $125.00 and gave the stock a “hold” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nineteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $121.40.

Check Out Our Latest Research Report on ALB

Albemarle Stock Up 8.2%

Shares of Albemarle stock opened at $155.71 on Tuesday. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. Albemarle has a 12-month low of $49.43 and a 12-month high of $152.08. The company’s fifty day simple moving average is $123.85 and its two-hundred day simple moving average is $94.98. The company has a market cap of $18.33 billion, a P/E ratio of -97.93, a PEG ratio of 7.07 and a beta of 1.41.

Albemarle (NYSE:ALB – Get Free Report) last announced its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.73. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the company posted ($1.55) EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Research analysts anticipate that Albemarle will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Albemarle

Large investors have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of Albemarle by 14.8% during the third quarter. CWM LLC now owns 165,074 shares of the specialty chemicals company’s stock worth $13,384,000 after purchasing an additional 21,257 shares during the period. AXQ Capital LP acquired a new position in Albemarle during the second quarter worth about $267,000. Empower Advisory Group LLC grew its position in Albemarle by 11.4% during the 2nd quarter. Empower Advisory Group LLC now owns 866,575 shares of the specialty chemicals company’s stock worth $54,308,000 after purchasing an additional 88,457 shares in the last quarter. Bard Financial Services Inc. acquired a new stake in Albemarle during the 2nd quarter worth about $1,850,000. Finally, Leibman Financial Services Inc. boosted its stake in shares of Albemarle by 14.6% during the 2nd quarter. Leibman Financial Services Inc. now owns 48,871 shares of the specialty chemicals company’s stock valued at $3,063,000 after buying an additional 6,237 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

(Get Free Report)

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.

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