Albemarle (NYSE:ALB) Price Target Raised to $180.00

Albemarle (NYSE:ALB) had its price objective increased by Evercore from $100.00 to $180.00 in a report released on Wednesday, MarketBeat reports.

ALB has been the topic of several other reports. Scotiabank upgraded shares of 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. Argus lifted their target price on Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Zacks Research raised Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Robert W. Baird set a $210.00 price target on Albemarle and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Finally, Mizuho lifted their price target on shares of Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.52.

Albemarle Trading Down 0.0%

NYSE:ALB opened at $168.33 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41. Albemarle has a 1-year low of $49.43 and a 1-year high of $195.68. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of -29.28, a PEG ratio of 1.76 and a beta of 1.44. The business’s 50-day moving average price is $161.88 and its two-hundred day moving average price is $118.49.

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

Hedge Funds Weigh In On Albemarle

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its stake in Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 402 shares during the last quarter. Strategic Advocates LLC bought a new stake in shares of Albemarle in the 3rd quarter valued at about $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle in the 4th quarter valued at about $26,000. CVA Family Office LLC grew its holdings in Albemarle by 7,257.1% during the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 508 shares during the period. Finally, BOKF NA increased its position in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 404 shares during the last quarter. 92.87% of the stock is 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.