Albemarle Corporation (NYSE:ALB) Given Consensus Rating of “Moderate Buy” by Brokerages

Albemarle Corporation (NYSE:ALB) has been given an average recommendation of “Moderate Buy” by the thirty analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and four have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $161.16.

A number of research firms have issued reports on ALB. Citigroup raised their price target on shares of Albemarle from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. UBS Group upped their target price on Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Rothschild & Co Redburn lifted 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. Robert W. Baird set a $210.00 price target on Albemarle and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Finally, Evercore ISI raised their price objective on Albemarle from $88.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday, November 11th.

Institutional Trading of Albemarle

Institutional investors and hedge funds have recently bought and sold shares of the business. Manning & Napier Advisors LLC acquired a new stake in Albemarle during the third quarter worth about $138,723,000. ProShare Advisors LLC lifted its holdings in Albemarle by 48.5% in the second quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock valued at $179,870,000 after acquiring an additional 937,538 shares during the period. AQR Capital Management LLC boosted its position in Albemarle by 22,047.4% in the 2nd quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company’s stock worth $44,613,000 after purchasing an additional 710,589 shares in the last quarter. Samlyn Capital LLC acquired a new stake in shares of Albemarle during the 3rd quarter worth approximately $47,088,000. Finally, FengHe Fund Management Pte. Ltd. purchased a new position in shares of Albemarle during the 2nd quarter valued at approximately $32,903,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Trading Down 5.1%

Albemarle stock opened at $184.27 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.51 and a current ratio of 2.27. The stock has a market cap of $21.69 billion, a PE ratio of -115.89, a price-to-earnings-growth ratio of 4.48 and a beta of 1.41. The stock has a 50-day moving average of $147.69 and a two-hundred day moving average of $107.71. Albemarle has a one year low of $49.43 and a one year high of $195.68.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.73. The firm had revenue of $1.31 billion for 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%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.55) earnings per share. On average, research analysts anticipate that Albemarle will post -0.04 EPS for the current fiscal year.

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.