Albemarle (NYSE:ALB) Price Target Raised to $180.00

by · The Markets Daily

Albemarle (NYSE:ALB – Get Free Report) had its price objective increased by analysts at Citigroup from $150.00 to $180.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target indicates a potential upside of 0.81% from the company’s current price.

Several other equities analysts have also commented on the stock. Mizuho increased their target price on shares of Albemarle from $132.00 to $156.00 and gave the company a “neutral” rating in a report on Monday, January 12th. BMO Capital Markets raised their price target on Albemarle from $145.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday. Bank of America lifted their price target on Albemarle from $118.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. UBS Group upped their price target on shares of Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Rothschild & Co Redburn raised their price target on shares of Albemarle from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.48.

Read Our Latest Report on Albemarle

Albemarle Price Performance

Shares of ALB traded up $6.01 during trading hours on Wednesday, reaching $178.55. 2,614,202 shares of the company’s stock traded hands, compared to its average volume of 3,575,183. The firm’s 50 day simple moving average is $139.27 and its 200-day simple moving average is $103.02. The stock has a market cap of $21.01 billion, a PE ratio of -112.32, a price-to-earnings-growth ratio of 6.22 and a beta of 1.41. 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 $181.06.

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

Institutional Investors Weigh In On Albemarle

Several large investors have recently bought and sold shares of the business. PGGM Investments lifted its stake in shares of Albemarle by 10.8% during the 3rd quarter. PGGM Investments now owns 1,185,005 shares of the specialty chemicals company’s stock valued at $96,080,000 after buying an additional 115,081 shares in the last quarter. Occidental Asset Management LLC purchased a new stake in Albemarle during the third quarter valued at $3,313,000. CWM LLC lifted its holdings in shares of Albemarle by 14.8% in the 3rd quarter. CWM LLC now owns 165,074 shares of the specialty chemicals company’s stock valued at $13,384,000 after acquiring an additional 21,257 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Albemarle in the 2nd quarter worth approximately $267,000. Finally, Empower Advisory Group LLC increased its position in Albemarle by 11.4% during the second quarter. Empower Advisory Group LLC now owns 866,575 shares of the specialty chemicals company’s stock valued at $54,308,000 after acquiring an additional 88,457 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

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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