Royal Bank Of Canada Issues Positive Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its target price raised by analysts at Royal Bank Of Canada from $200.00 to $216.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 27.46% from the stock’s previous close.

ALB has been the subject of several other research reports. Wells Fargo & Company set a $165.00 price objective on shares of Albemarle in a research note on Monday. BMO Capital Markets boosted their price target on shares of Albemarle from $145.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Argus upped their price target on shares of Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Albemarle in a research note on Monday, December 29th. Finally, Stephens restated an “outperform” rating on shares of Albemarle in a research report on Friday, December 19th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Albemarle currently has an average rating of “Moderate Buy” and an average target price of $164.32.

Albemarle Trading Up 1.9%

NYSE:ALB opened at $169.47 on Tuesday. Albemarle has a 1 year low of $49.43 and a 1 year high of $195.68. The stock’s fifty day moving average price is $158.94 and its two-hundred day moving average price is $116.36. 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 cap of $19.97 billion, a P/E ratio of -29.47, a P/E/G ratio of 2.40 and a beta of 1.44.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted ($1.09) EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts expect that Albemarle will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Albemarle

A number of hedge funds have recently made changes to their positions in ALB. Hantz Financial Services Inc. raised its holdings in Albemarle by 10,050.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 402 shares in the last quarter. Strategic Advocates LLC bought a new position in shares of Albemarle in the 3rd quarter worth approximately $25,000. MH & Associates Securities Management Corp ADV purchased a new position in shares of Albemarle in the 4th quarter valued at approximately $26,000. CVA Family Office LLC boosted its position in shares of Albemarle by 7,257.1% during the second 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 in the last quarter. Finally, BOKF NA grew its stake in Albemarle by 5,771.4% in the third 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. 92.87% of the stock is currently owned by institutional investors.

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.