Oppenheimer Issues Positive Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price target increased by research analysts at Oppenheimer from $216.00 to $222.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Oppenheimer’s price objective suggests a potential upside of 27.97% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Evercore lifted their target price on shares of Albemarle from $100.00 to $180.00 in a research report on Wednesday, February 18th. Bank of America raised Albemarle from a “neutral” rating to a “buy” rating and upped their target price for the company from $167.00 to $190.00 in a research note on Tuesday, February 17th. Mizuho increased their target price on Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. dropped their price target on Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Finally, UBS Group upped their price objective on Albemarle from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Albemarle has an average rating of “Moderate Buy” and an average target price of $171.84.

Albemarle Stock Down 0.1%

ALB stock opened at $173.47 on Monday. Albemarle has a 52 week low of $50.85 and a 52 week high of $206.00. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41. The company has a market cap of $20.45 billion, a P/E ratio of -30.17, a P/E/G ratio of 1.33 and a beta of 1.43. The company’s 50-day moving average price is $170.81 and its 200 day moving average price is $141.99.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned ($1.09) EPS. Albemarle’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts expect that Albemarle will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total value of $2,012,654.23. Following the completion of the sale, the chief executive officer directly owned 134,628 shares in the company, valued at approximately $22,995,808.68. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Large investors have recently modified their holdings of the company. MH & Associates Securities Management Corp ADV acquired a new position in shares of Albemarle during the fourth quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in Albemarle during the 4th quarter worth approximately $34,000. Torren Management LLC purchased a new position in Albemarle in the 4th quarter worth approximately $38,000. Root Financial Partners LLC grew its position in Albemarle by 121.5% in the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 164 shares in the last quarter. Finally, Strategic Advocates LLC acquired a new stake in Albemarle in the third quarter valued at approximately $25,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Company Profile

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.