Albemarle’s (ALB) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d-) rating on shares of Albemarle (NYSE:ALB) in a report released on Friday,Weiss Ratings reports.

Several other equities analysts have also recently weighed in on ALB. JPMorgan Chase & Co. lifted their price objective on Albemarle from $60.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Jefferies Financial Group lifted their price objective on Albemarle from $90.00 to $105.00 and gave the company a “buy” rating in a report on Monday, October 6th. Baird R W cut Albemarle from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on Albemarle from $74.00 to $95.00 in a report on Friday, October 17th. Finally, Mizuho lifted their price objective on Albemarle from $78.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Albemarle has an average rating of “Hold” and a consensus price target of $95.33.

Albemarle Stock Up 8.5%

Shares of Albemarle stock opened at $105.65 on Friday. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. Albemarle has a 12 month low of $49.43 and a 12 month high of $113.91. The business has a fifty day simple moving average of $85.52 and a 200 day simple moving average of $71.54. The stock has a market cap of $12.43 billion, a PE ratio of -11.34 and a beta of 1.65.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.94. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. Research analysts predict that Albemarle will post -0.04 EPS for the current year.

Institutional Trading of Albemarle

Several institutional investors and hedge funds have recently bought and sold shares of ALB. State of Alaska Department of Revenue raised its holdings in Albemarle by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 13,777 shares of the specialty chemicals company’s stock worth $992,000 after acquiring an additional 375 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Albemarle by 24.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,541 shares of the specialty chemicals company’s stock worth $3,136,000 after acquiring an additional 8,572 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Albemarle by 15.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,474 shares of the specialty chemicals company’s stock worth $250,000 after acquiring an additional 458 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Albemarle by 1.8% during the first quarter. Asset Management One Co. Ltd. now owns 44,729 shares of the specialty chemicals company’s stock worth $3,221,000 after acquiring an additional 779 shares in the last quarter. Finally, Moran Wealth Management LLC raised its holdings in Albemarle by 21.7% during the first quarter. Moran Wealth Management LLC now owns 9,334 shares of the specialty chemicals company’s stock worth $672,000 after acquiring an additional 1,665 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

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.