Albemarle (NYSE:ALB) Stock Price Expected to Rise, Citigroup Analyst Says

Albemarle (NYSE:ALB) had its price objective lifted by investment analysts at Citigroup from $150.00 to $180.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s target price suggests a potential downside of 4.24% from the stock’s previous close.

ALB has been the topic of several other reports. HSBC upgraded Albemarle from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a report on Monday. Rothschild & Co Redburn boosted their target price on shares of Albemarle from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Wells Fargo & Company raised their price target on shares of Albemarle from $100.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, December 19th. Argus boosted their price objective on shares of Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Albemarle in a report on Monday, December 29th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Albemarle currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.48.

Albemarle Stock Performance

NYSE ALB opened at $187.97 on Wednesday. The firm’s fifty day moving average price is $142.13 and its two-hundred day moving average price is $104.14. The stock has a market cap of $22.12 billion, a PE ratio of -118.22, a PEG ratio of 4.68 and a beta of 1.41. 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 $189.18.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.73. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the business posted ($1.55) EPS. Albemarle’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts expect that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of Albemarle by 2.0% in the second quarter. Geode Capital Management LLC now owns 2,954,331 shares of the specialty chemicals company’s stock worth $184,782,000 after purchasing an additional 59,104 shares during the last quarter. ProShare Advisors LLC grew its holdings in Albemarle by 48.5% during the second quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock worth $179,870,000 after buying an additional 937,538 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Albemarle in the 3rd quarter valued at $138,723,000. Dimensional Fund Advisors LP lifted its stake in Albemarle by 3.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,475,832 shares of the specialty chemicals company’s stock valued at $119,710,000 after acquiring an additional 52,698 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Albemarle by 1.8% during the 3rd quarter. Northern Trust Corp now owns 1,263,734 shares of the specialty chemicals company’s stock worth $102,464,000 after acquiring an additional 22,856 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.