Albemarle (NYSE:ALB) Stock Rating Upgraded by Baird R W

Albemarle (NYSE:ALB) was upgraded by investment analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other brokerages have also weighed in on ALB. Rothschild Redb raised shares of Albemarle to a “strong-buy” rating in a research report on Friday, October 24th. BMO Capital Markets raised their price target on shares of Albemarle from $136.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Bank of America reaffirmed a “neutral” rating and issued a $100.00 price objective (up previously from $95.00) on shares of Albemarle in a research note on Tuesday, October 14th. Cowen reiterated a “hold” rating on shares of Albemarle in a report on Thursday, October 9th. Finally, Dbs Bank increased their target price on shares of Albemarle from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.28.

Albemarle Price Performance

ALB opened at $161.52 on Wednesday. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of -101.58, a PEG ratio of 7.77 and a beta of 1.41. Albemarle has a 1 year low of $49.43 and a 1 year high of $164.98. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $126.34 and a 200 day moving average price of $96.15.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.73. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.55) EPS. Analysts forecast that Albemarle will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Albemarle

Institutional investors have recently made changes to their positions in the business. Strategic Advocates LLC acquired a new position in shares of Albemarle during the 3rd quarter worth about $25,000. Hantz Financial Services Inc. increased its position in Albemarle by 10,050.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 402 shares during the period. BOKF NA lifted its holdings in shares of Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 404 shares during the last quarter. Cromwell Holdings LLC boosted its position in shares of Albemarle by 36.8% in the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 111 shares during the period. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of Albemarle in the third quarter valued at approximately $40,000. 92.87% of the stock is currently owned by 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.