Albemarle Corporation (NYSE:ALB) Receives $167.52 Consensus Price Target from Brokerages

Albemarle Corporation (NYSE:ALB) has received an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $170.04.

Several research firms have weighed in on ALB. Rothschild & Co Redburn increased their price target on shares of Albemarle from $158.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Morgan Stanley boosted their price objective on Albemarle from $147.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Berenberg Bank set a $153.00 target price on Albemarle in a research note on Monday. Truist Financial raised Albemarle from a “hold” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $205.00 in a report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Albemarle in a report on Monday, December 29th.

Albemarle Stock Performance

Shares of NYSE ALB opened at $195.64 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. The company has a market capitalization of $23.06 billion, a P/E ratio of -34.02, a P/E/G ratio of 1.67 and a beta of 1.44. Albemarle has a 12 month low of $49.43 and a 12 month high of $206.00. The stock has a 50 day moving average of $165.11 and a 200-day moving average of $121.27.

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

Hedge Funds Weigh In On Albemarle

A number of hedge funds have recently bought and sold shares of ALB. Hantz Financial Services Inc. grew its position in shares of Albemarle by 10,050.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 402 shares in the last quarter. Strategic Advocates LLC bought a new stake in shares of Albemarle in the third quarter valued at approximately $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle during the fourth quarter worth approximately $26,000. CVA Family Office LLC increased its stake in Albemarle by 7,257.1% during the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 508 shares during the period. Finally, BOKF NA raised its holdings in Albemarle by 5,771.4% in the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 404 shares in the last quarter. 92.87% of the stock is 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.