Albemarle (NYSE:ALB – Get Free Report) was upgraded by research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $130.00 price target on the specialty chemicals company’s stock. Mizuho’s price objective would suggest a potential upside of 33.42% from the stock’s current price.
Several other research firms have also recently commented on ALB. BMO Capital Markets restated an “outperform” rating and issued a $175.00 target price on shares of Albemarle in a research report on Tuesday, October 6th. Truist Financial decreased their price target on Albemarle from $245.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Citigroup lowered their price target on Albemarle from $225.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Argus cut their price objective on shares of Albemarle from $230.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Albemarle from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, August 25th. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.96.
Read Our Latest Research Report on ALB
Albemarle Stock Performance
Albemarle (NYSE:ALB – Get Free Report) last issued its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.55. Albemarle had a return on equity of 10.96% and a net margin of 3.09%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. As a group, equities research analysts forecast that Albemarle will post 11.25 earnings per share for the current year.
Institutional Trading of Albemarle
Large investors have recently added to or reduced their stakes in the business. Evexia Wealth LLC increased its stake in shares of Albemarle by 2.3% during the first quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company’s stock worth $387,000 after buying an additional 47 shares during the period. Sigma Planning Corp lifted its position in shares of Albemarle by 2.3% during the 1st quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company’s stock worth $530,000 after buying an additional 66 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Albemarle by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,452 shares of the specialty chemicals company’s stock valued at $4,928,000 after acquiring an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Albemarle by 0.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,664 shares of the specialty chemicals company’s stock valued at $2,082,000 after purchasing an additional 75 shares during the period. Finally, Cadence Wealth Management LLC increased its position in Albemarle by 1.8% during the first quarter. Cadence Wealth Management LLC now owns 4,982 shares of the specialty chemicals company’s stock worth $894,000 after buying an additional 87 shares during the period. 92.87% of the stock is currently owned by institutional investors.
Albemarle News Roundup
Here are the key news stories impacting Albemarle this week:
- Positive Sentiment: Mizuho upgraded Albemarle from Neutral to Outperform and set a $130 price target, implying roughly 34% upside from recent trading levels. The upgrade appears to be the primary reason shares moved higher earlier in the session, with the analyst seeing potential for a recovery in the lithium business. Lithium Stock Looks to End Losing Streak After Upgrade
- Positive Sentiment: Options traders showed notable bullish interest, purchasing 14,722 ALB call options—about 97% above the average call volume. While options activity does not guarantee a sustained rally, it may amplify near-term optimism following the Mizuho upgrade.
- Neutral Sentiment: Mizuho’s upgrade follows Barclays’ initiation of coverage with an Equal Weight rating, indicating a more cautious view and limiting the strength of the broader analyst signal. Barclays Initiates Coverage of Albemarle With Equal-Weight Rating
- Negative Sentiment: Zacks assigned Albemarle a Rank #5, or Strong Sell, citing downward earnings revisions and lithium prices that have fallen approximately 80% since late 2022. Weak commodity pricing remains the key fundamental risk for revenue, margins and cash flow. Bear of the Day: Albemarle Corporation
- Negative Sentiment: Albemarle recently underperformed the broader market, reinforcing concerns about the stock’s continuing downtrend and the pressure caused by depressed lithium prices. Albemarle Dips More Than Broader Market
Albemarle Company Profile
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company that develops, manufactures and markets materials used in energy storage, transportation, consumer products and industrial applications. The company is best known for its lithium business, which supplies lithium compounds used in rechargeable batteries for electric vehicles, portable electronics and energy-storage systems.
Albemarle also produces bromine-based specialty chemicals used in areas such as fire safety, water treatment, pharmaceutical manufacturing and other industrial processes.
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