Albemarle (NYSE:ALB) Price Target Raised to $195.00

Albemarle (NYSE:ALB) had its price target upped by JPMorgan Chase & Co. from $80.00 to $195.00 in a research note issued to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the specialty chemicals company’s stock.

Other analysts have also recently issued research reports about the stock. Hsbc Global Res upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Mizuho lifted their price objective on Albemarle from $132.00 to $156.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Albemarle in a report on Monday, December 29th. Oppenheimer raised their target price on Albemarle from $109.00 to $207.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Finally, Citigroup boosted their target price on Albemarle from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.16.

Albemarle Trading Down 5.7%

Shares of ALB opened at $170.45 on Wednesday. The stock’s fifty day simple moving average is $150.04 and its 200-day simple moving average is $108.90. The firm has a market capitalization of $20.06 billion, a PE ratio of -107.20, a price-to-earnings-growth ratio of 4.17 and a beta of 1.41. Albemarle has a 12-month low of $49.43 and a 12-month high of $195.68. 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 announced its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.73. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.55) EPS. As a group, research analysts predict that Albemarle will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. raised its holdings in shares of Albemarle by 10,050.0% during the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 402 shares during the period. Strategic Advocates LLC acquired a new position in Albemarle in the 3rd quarter worth $25,000. MH & Associates Securities Management Corp ADV bought a new position in Albemarle during the 4th quarter worth about $26,000. CVA Family Office LLC raised its stake in shares of Albemarle by 7,257.1% in the 2nd 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 period. Finally, BOKF NA raised its stake in shares of Albemarle by 5,771.4% in the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.