Albemarle (NYSE:ALB) Price Target Raised to $185.00 at Argus

Albemarle (NYSE:ALB) had its price objective hoisted by Argus from $140.00 to $185.00 in a report issued on Monday,MarketScreener reports.

Several other brokerages have also commented on ALB. Oppenheimer increased their price target on shares of Albemarle from $109.00 to $207.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Robert W. Baird set a $210.00 target price on shares of Albemarle and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Berenberg Bank set a $153.00 price target on Albemarle in a research report on Monday. Truist Financial upgraded Albemarle from a “hold” rating to a “buy” rating and upped their price target for the stock from $125.00 to $205.00 in a research note on Wednesday, January 21st. Finally, Zacks Research raised Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.04.

Albemarle Price Performance

ALB opened at $188.16 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41. Albemarle has a 1 year low of $49.43 and a 1 year high of $195.68. The stock has a fifty day moving average price of $162.78 and a 200 day moving average price of $119.96. The stock has a market cap of $22.18 billion, a price-to-earnings ratio of -32.45, a PEG ratio of 1.76 and a beta of 1.44.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates 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 business earned ($1.09) earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts forecast that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Albemarle

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

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.