Albemarle (NYSE:ALB) Price Target Raised to $156.00

Albemarle (NYSE:ALB) had its price target increased by equities research analysts at Mizuho from $132.00 to $156.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s target price suggests a potential downside of 6.96% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Albemarle from $110.00 to $125.00 and gave the stock a “hold” rating in a research note on Wednesday, December 3rd. Cowen reiterated a “hold” rating on shares of Albemarle in a report on Thursday, October 9th. TD Cowen raised their target price on Albemarle from $70.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Jefferies Financial Group increased their price target on Albemarle from $152.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Finally, HSBC raised their price target on Albemarle from $87.00 to $117.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $130.84.

Albemarle Stock Performance

Shares of ALB traded up $6.37 during mid-day trading on Monday, reaching $167.66. The company’s stock had a trading volume of 974,182 shares, compared to its average volume of 3,273,580. The stock has a market cap of $19.73 billion, a P/E ratio of -105.68, a PEG ratio of 6.78 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 1-year low of $49.43 and a 1-year high of $169.62. The business has a 50-day simple moving average of $128.81 and a two-hundred day simple moving average of $97.82.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm earned ($1.55) earnings per share. Albemarle’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

A number of large investors have recently made changes to their positions in ALB. Founders Grove Wealth Partners LLC bought a new position in shares of Albemarle during the 4th quarter valued at approximately $214,000. SG Americas Securities LLC lifted its stake in Albemarle by 211.4% in the 4th quarter. SG Americas Securities LLC now owns 125,117 shares of the specialty chemicals company’s stock worth $17,697,000 after purchasing an additional 84,943 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Albemarle during the 4th quarter valued at about $4,866,000. Marshall Financial Group LLC purchased a new position in shares of Albemarle during the fourth quarter valued at about $233,000. Finally, Norway Savings Bank increased its holdings in shares of Albemarle by 6.3% in the fourth quarter. Norway Savings Bank now owns 7,616 shares of the specialty chemicals company’s stock worth $1,077,000 after purchasing an additional 453 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

About Albemarle

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.