Rothschild & Co Redburn Issues Pessimistic Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price objective lowered by equities researchers at Rothschild & Co Redburn from $188.00 to $170.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Rothschild & Co Redburn’s target price indicates a potential upside of 25.96% from the stock’s current price.

A number of other research firms have also recently issued reports on ALB. Bank of America lifted their target price on shares of Albemarle from $190.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. UBS Group increased their price target on shares of Albemarle from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Morgan Stanley raised their price target on shares of Albemarle from $170.00 to $189.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Wall Street Zen raised shares of Albemarle from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada upped their price objective on shares of Albemarle from $253.00 to $257.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.58.

Albemarle Trading Up 4.0%

Albemarle stock opened at $134.96 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. Albemarle has a 12 month low of $60.64 and a 12 month high of $221.00. The company’s fifty day simple moving average is $173.67 and its 200-day simple moving average is $169.41. The stock has a market cap of $15.92 billion, a P/E ratio of -39.58, a P/E/G ratio of 0.62 and a beta of 1.30.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm earned ($0.18) earnings per share. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, sell-side analysts forecast that Albemarle will post 12.98 EPS for the current fiscal year.

Insider Activity

In related news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the completion of the sale, the chief executive officer owned 87,519 shares in the company, valued at approximately $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALB. Nordea Investment Management AB acquired a new position in shares of Albemarle in the fourth quarter valued at about $6,171,000. Altfest L J & Co. Inc. acquired a new stake in shares of Albemarle in the fourth quarter valued at approximately $1,055,000. Three Seasons Wealth LLC bought a new stake in shares of Albemarle in the fourth quarter valued at approximately $873,000. J. Safra Sarasin Holding AG lifted its holdings in shares of Albemarle by 493.3% during the 4th quarter. J. Safra Sarasin Holding AG now owns 84,011 shares of the specialty chemicals company’s stock worth $11,883,000 after acquiring an additional 69,850 shares during the period. Finally, BW Gestao de Investimentos Ltda. boosted its stake in Albemarle by 181.8% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company’s stock valued at $18,705,000 after buying an additional 85,320 shares in the last quarter. 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.