Albemarle (NYSE:ALB) Price Target Raised to $170.00

Albemarle (NYSE:ALBFree Report) had its price target hoisted by Morgan Stanley from $147.00 to $170.00 in a research report sent to investors on Friday, Marketbeat reports. The brokerage currently has an equal weight rating on the specialty chemicals company’s stock.

Other analysts also recently issued research reports about the company. Dbs Bank lifted their target price on Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Mizuho increased their price objective on shares of Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday. BMO Capital Markets boosted their target price on shares of Albemarle from $145.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Rothschild & Co Redburn upped their target price on shares of Albemarle from $158.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Oppenheimer raised their price objective on Albemarle from $109.00 to $207.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.72.

Check Out Our Latest Report on ALB

Albemarle Price Performance

Shares of NYSE:ALB opened at $166.42 on Friday. The firm’s 50 day simple moving average is $158.16 and its two-hundred day simple moving average is $115.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57. The company has a market capitalization of $19.61 billion, a P/E ratio of -28.94, a P/E/G ratio of 2.40 and a beta of 1.44. Albemarle has a 1-year low of $49.43 and a 1-year high of $195.68.

Albemarle (NYSE:ALBGet Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.09) earnings per share. Research analysts expect that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Albemarle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALB. MH & Associates Securities Management Corp ADV bought a new position in shares of Albemarle during the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in Albemarle during the fourth quarter worth $34,000. Torren Management LLC purchased a new position in Albemarle during the fourth quarter worth $38,000. Root Financial Partners LLC increased its position in Albemarle by 121.5% during the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 164 shares during the last quarter. Finally, Strategic Advocates LLC purchased a new stake in shares of Albemarle in the third quarter valued at $25,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

More Albemarle News

Here are the key news stories impacting Albemarle this week:

About Albemarle

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.