Jefferies Financial Group Issues Positive Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price objective increased by stock analysts at Jefferies Financial Group from $210.00 to $230.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 24.22% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. TD Cowen reiterated a “hold” rating on shares of Albemarle in a report on Thursday, October 9th. UBS Group lifted their price objective on shares of Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, January 12th. Mizuho lifted their price target on shares of Albemarle from $132.00 to $156.00 and gave the company 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. Finally, Zacks Research upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Four investment 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.16.

Albemarle Price Performance

Albemarle stock traded down $9.02 during mid-day trading on Wednesday, reaching $185.16. 2,327,535 shares of the company’s stock traded hands, compared to its average volume of 3,529,267. The stock has a 50 day moving average of $146.52 and a two-hundred day moving average of $107.17. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market cap of $21.79 billion, a price-to-earnings ratio of -116.30, a PEG ratio of 4.14 and a beta of 1.41. Albemarle has a 12-month low of $49.43 and a 12-month high of $195.68.

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

Institutional Investors Weigh In On Albemarle

A number of large investors have recently bought and sold shares of ALB. AQR Capital Management LLC raised its position in shares of Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock worth $229,000 after acquiring an additional 654 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Albemarle by 26.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock worth $346,000 after acquiring an additional 996 shares in the last quarter. United Services Automobile Association purchased a new stake in Albemarle during the 1st quarter worth approximately $208,000. Empowered Funds LLC acquired a new stake in Albemarle during the first quarter worth $411,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Albemarle by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 36,482 shares of the specialty chemicals company’s stock worth $2,286,000 after acquiring an additional 360 shares during the last quarter. Hedge funds and other 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.