Albemarle (NYSE:ALB) Raised to “Strong-Buy” at Zacks Research

Albemarle (NYSE:ALB) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently commented on ALB. Scotiabank raised Albemarle from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $85.00 to $200.00 in a report on Monday, January 12th. JPMorgan Chase & Co. reduced their target price on Albemarle from $195.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft increased their target price on Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday. Mizuho increased their target price on Albemarle from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Berenberg Bank set a $153.00 target price on Albemarle in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $194.13.

Albemarle Trading Down 2.1%

Shares of ALB opened at $205.66 on Monday. The company has a market capitalization of $24.25 billion, a P/E ratio of -60.31, a P/E/G ratio of 1.42 and a beta of 1.36. Albemarle has a one year low of $53.70 and a one year high of $221.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The stock has a 50-day moving average price of $180.77 and a 200 day moving average price of $156.80.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.Albemarle’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) earnings per share. Sell-side analysts forecast that Albemarle will post 9.22 EPS for the current fiscal year.

Insider Buying and Selling at Albemarle

In other news, CEO J Kent Masters sold 11,783 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the sale, the chief executive officer directly owned 134,628 shares in the company, valued at approximately $22,995,808.68. This represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Trading of Albemarle

A number of institutional investors and hedge funds have recently made changes to their positions in ALB. Strategic Advocates LLC acquired a new stake in shares of Albemarle during the 3rd quarter worth approximately $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in shares of Albemarle during the 4th quarter worth approximately $26,000. BOKF NA raised its position in shares of Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 404 shares during the period. Elyxium Wealth LLC acquired a new stake in shares of Albemarle during the 4th quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Albemarle by 536.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 483 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

More Albemarle News

Here are the key news stories impacting Albemarle this week:

• Positive Sentiment: Deutsche Bank raised its price target on Albemarle to $250 and kept a buy rating, signaling continued upside potential. Article link
• Positive Sentiment: Royal Bank of Canada lifted its target to $253 and reiterated outperform, while Jefferies and Argus also boosted targets, reinforcing a bullish Street view. Article link
• Positive Sentiment: Zacks added ALB to its Rank #1 Strong Buy list and highlighted strong earnings estimate revisions and momentum strength. Article link
• Positive Sentiment: Recent commentary points to Albemarle’s 26% three-month rally, supported by lithium price tailwinds, solid demand, and an improved earnings outlook. Article link
• Neutral Sentiment: Several articles simply note elevated investor attention and compare ALB’s performance with the broader basic materials sector, without adding a major new catalyst. Article link

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.