Albemarle (NYSE:ALB) Price Target Raised to $180.00

Albemarle (NYSE:ALB) had its price objective upped by Citigroup from $150.00 to $180.00 in a report published on Tuesday morning,MarketScreener reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other equities analysts also recently weighed in on ALB. Mizuho lifted their target price on Albemarle from $132.00 to $156.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Oppenheimer lifted their price objective on shares of Albemarle from $109.00 to $207.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Berenberg Bank increased their target price on shares of Albemarle from $75.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, January 6th. Truist Financial raised shares of Albemarle from a “hold” rating to a “buy” rating and raised their price target for the company from $125.00 to $205.00 in a research report on Wednesday, January 21st. Finally, BMO Capital Markets upped their price objective on Albemarle from $145.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Albemarle presently has an average rating of “Moderate Buy” and an average target price of $161.16.

Albemarle Stock Down 7.2%

Albemarle stock opened at $156.60 on Tuesday. The company has a market capitalization of $18.43 billion, a PE ratio of -98.49, a price-to-earnings-growth ratio of 3.02 and a beta of 1.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.51 and a current ratio of 2.27. Albemarle has a fifty-two week low of $49.43 and a fifty-two week high of $195.68. The firm has a 50 day moving average price of $153.36 and a 200 day moving average price of $111.45.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.73. The business had revenue of $1.31 billion during 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 company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted ($1.55) earnings per share. Research analysts expect that Albemarle will post -0.04 earnings per share for the current year.

Institutional Trading of Albemarle

Several institutional investors have recently modified their holdings of the stock. MH & Associates Securities Management Corp ADV acquired a new position in shares of Albemarle during the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in shares of Albemarle during the 4th quarter valued at approximately $34,000. Torren Management LLC acquired a new stake in shares of Albemarle during the 4th quarter valued at approximately $38,000. Strategic Advocates LLC purchased a new stake in shares of Albemarle during the 3rd quarter worth approximately $25,000. Finally, Hantz Financial Services Inc. boosted its stake 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 acquiring an additional 402 shares in the last quarter. Hedge funds and other institutional investors 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.