Albemarle (NYSE:ALB) Stock Rating Upgraded by Truist Financial

Albemarle (NYSE:ALB) was upgraded by Truist Financial from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $205.00 target price on the specialty chemicals company’s stock, up from their previous target price of $125.00. Truist Financial’s target price points to a potential upside of 9.06% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Citigroup increased their target price on shares of Albemarle from $100.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. Rothschild Redb upgraded shares of Albemarle to a “strong-buy” rating in a research note on Friday, October 24th. Argus lifted their target price on Albemarle from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Rothschild & Co Redburn increased their price target on Albemarle from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Finally, Berenberg Bank upped their price objective on Albemarle from $75.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, January 6th. Four research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.48.

Albemarle Stock Performance

Shares of ALB opened at $187.97 on Wednesday. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of -118.22, a PEG ratio of 4.68 and a beta of 1.41. The business’s 50 day moving average is $142.13 and its two-hundred day moving average is $104.14. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Albemarle has a 52-week low of $49.43 and a 52-week high of $189.18.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALB. Hantz Financial Services Inc. lifted its holdings 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 valued at $25,000 after acquiring an additional 402 shares during the last quarter. Strategic Advocates LLC acquired a new stake in Albemarle during the third quarter valued at approximately $25,000. MH & Associates Securities Management Corp ADV bought a new stake in Albemarle during the fourth quarter worth approximately $26,000. CVA Family Office LLC boosted its holdings in Albemarle by 7,257.1% during the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 508 shares in the last quarter. Finally, BOKF NA raised its position 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 purchasing an additional 404 shares during the period. 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.