Albemarle (NYSE:ALB) Stock Price Expected to Rise, Citigroup Analyst Says

Albemarle (NYSE:ALB) had its price target boosted by equities research analysts at Citigroup from $150.00 to $180.00 in a research report issued on Tuesday,MarketScreener reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target would indicate a potential upside of 4.94% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank Of Canada boosted their price objective on Albemarle from $159.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Albemarle from $80.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Truist Financial raised Albemarle from a “hold” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $205.00 in a research report on Wednesday, January 21st. Robert W. Baird set a $210.00 target price on shares of Albemarle and gave the company an “outperform” rating in a report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Albemarle from a “hold” rating to a “buy” rating and upped their price objective for the company from $125.00 to $185.00 in a research note on Monday, January 12th. Four 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 given a Sell rating to the company’s stock. According to MarketBeat, Albemarle presently has a consensus rating of “Moderate Buy” and an average price target of $161.16.

Albemarle Trading Up 4.0%

NYSE:ALB traded up $6.59 on Tuesday, hitting $171.52. The stock had a trading volume of 385,037 shares, compared to its average volume of 3,594,612. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of -108.05, a PEG ratio of 3.05 and a beta of 1.41. Albemarle has a 1-year low of $49.43 and a 1-year 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. The company has a fifty day moving average price of $151.02 and a two-hundred day moving average price of $110.07.

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 the consensus estimate of ($0.92) by $0.73. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned ($1.55) EPS. Albemarle’s revenue was down 3.5% on a year-over-year basis. Equities research analysts expect that Albemarle will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Albemarle

Institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Albemarle in the 4th quarter worth $267,000. Garner Asset Management Corp purchased a new position in Albemarle during the fourth quarter worth about $91,000. Tweedy Browne Co LLC raised its holdings in Albemarle by 16.7% during the fourth quarter. Tweedy Browne Co LLC now owns 4,517 shares of the specialty chemicals company’s stock worth $639,000 after purchasing an additional 648 shares in the last quarter. Triasima Portfolio Management inc. acquired a new stake in Albemarle in the fourth quarter valued at about $2,309,000. Finally, FWG Holdings LLC purchased a new stake in Albemarle in the 4th quarter valued at approximately $223,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.