Albemarle (NYSE:ALB) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Albemarle (NYSE:ALB) had its price objective boosted by equities researchers at Royal Bank Of Canada from $159.00 to $200.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 6.40% from the company’s current price.

Several other brokerages have also commented on ALB. BMO Capital Markets upped their price target on Albemarle from $136.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Stephens reissued an “outperform” rating on shares of Albemarle in a research report on Friday, December 19th. Dbs Bank raised their price target on shares of Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 24th. Wells Fargo & Company boosted their price objective on shares of Albemarle from $100.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, December 19th. Finally, Citigroup increased their price objective on shares of Albemarle from $100.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.48.

Albemarle Trading Up 4.4%

Shares of ALB stock opened at $187.97 on Wednesday. The firm’s 50-day simple moving average is $142.13 and its 200-day simple moving average is $104.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.51. Albemarle has a 1-year low of $49.43 and a 1-year high of $189.18. The firm has a market cap of $22.12 billion, a P/E ratio of -118.22, a PEG ratio of 4.68 and a beta of 1.41.

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

Institutional Inflows and Outflows

A number of institutional investors and 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 valued at $25,000 after buying an additional 402 shares during the last quarter. Strategic Advocates LLC acquired a new position in Albemarle in the third quarter valued at approximately $25,000. MH & Associates Securities Management Corp ADV bought a new position in shares of Albemarle during the fourth quarter valued at approximately $26,000. CVA Family Office LLC grew its holdings in shares of Albemarle by 7,257.1% during the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 508 shares during the last quarter. Finally, BOKF NA raised its position in shares of Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 404 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.