Albemarle (NYSE:ALB) Price Target Raised to $216.00

Albemarle (NYSE:ALB) had its price target raised by investment analysts at Royal Bank Of Canada from $200.00 to $216.00 in a research note issued on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 27.46% from the company’s previous close.

Several other brokerages also recently commented on ALB. Bank of America raised shares of Albemarle from a “neutral” rating to a “buy” rating and increased their price objective for the company from $167.00 to $190.00 in a research report on Tuesday. Oppenheimer upped their target price 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. Mizuho boosted their price objective on shares of Albemarle from $156.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Dbs Bank upped their price objective on Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Scotiabank raised Albemarle from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $85.00 to $200.00 in a report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.32.

Albemarle Price Performance

ALB stock opened at $169.47 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23. The firm has a 50 day moving average price of $158.94 and a 200-day moving average price of $116.36. Albemarle has a 52-week low of $49.43 and a 52-week high of $195.68. The firm has a market capitalization of $19.97 billion, a price-to-earnings ratio of -29.47, a PEG ratio of 2.40 and a beta of 1.44.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted ($1.09) EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts forecast that Albemarle will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Albemarle

Institutional investors have recently bought and sold shares of the stock. MH & Associates Securities Management Corp ADV purchased a new stake in Albemarle in the 4th quarter worth $26,000. Elyxium Wealth LLC bought a new stake in shares of Albemarle in the fourth quarter worth about $34,000. Torren Management LLC purchased a new stake in shares of Albemarle in the fourth quarter worth about $38,000. Root Financial Partners LLC boosted its stake in Albemarle by 121.5% during the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 164 shares during the last quarter. Finally, Strategic Advocates LLC purchased a new position in Albemarle during the 3rd quarter valued at approximately $25,000. 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.