Rothschild & Co Redburn Forecasts Strong Price Appreciation for Albemarle (NYSE:ALB) Stock

Albemarle (NYSE:ALB) had its price target hoisted by stock analysts at Rothschild & Co Redburn from $158.00 to $185.00 in a report issued on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Rothschild & Co Redburn’s price objective suggests a potential upside of 5.38% from the company’s current price.

A number of other equities research analysts have also recently commented on ALB. Weiss Ratings reiterated a “sell (d+)” rating on shares of Albemarle in a report on Monday, December 29th. Royal Bank Of Canada boosted their price target on Albemarle from $159.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Jefferies Financial Group increased their price objective on Albemarle from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Argus lifted their price objective on Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Truist Financial upgraded shares of Albemarle from a “hold” rating to a “buy” rating and upped their target price for the company from $125.00 to $205.00 in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.24.

Albemarle Price Performance

Albemarle stock opened at $175.56 on Tuesday. The firm has a market capitalization of $20.66 billion, a PE ratio of -110.41, a P/E/G ratio of 2.43 and a beta of 1.44. Albemarle has a 52 week low of $49.43 and a 52 week high of $195.68. The firm’s 50-day simple moving average is $156.55 and its 200 day simple moving average is $114.09. 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 (NYSE:ALB) last posted its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.09. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted ($1.09) EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts predict that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Albemarle

Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in Albemarle by 25.5% during the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock worth $229,000 after purchasing an additional 654 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Albemarle by 26.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock worth $346,000 after buying an additional 996 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Albemarle during the 1st quarter worth $208,000. Empowered Funds LLC purchased a new position in shares of Albemarle in the 1st quarter worth $411,000. Finally, Blue Trust Inc. boosted its holdings in Albemarle by 13.2% in the second quarter. Blue Trust Inc. now owns 4,225 shares of the specialty chemicals company’s stock valued at $265,000 after acquiring an additional 492 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other 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.