Albemarle (NYSE:ALB) Price Target Raised to $170.00

Albemarle (NYSE:ALB) had its price target upped by research analysts at Morgan Stanley from $147.00 to $170.00 in a research note issued on Friday,MarketScreener reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target would suggest a potential upside of 2.34% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. HSBC raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Monday, January 19th. Mizuho raised their target price on Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday. Evercore boosted their target price on shares of Albemarle from $88.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of Albemarle from $195.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group increased their target price on shares of Albemarle from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.32.

Albemarle Stock Performance

ALB stock opened at $166.11 on Friday. The firm has a 50 day moving average of $157.34 and a two-hundred day moving average of $114.39. Albemarle has a 12 month low of $49.43 and a 12 month high of $195.68. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of -28.52, a P/E/G ratio of 2.53 and a beta of 1.44. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

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 0.40% and a negative net margin of 10.74%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted ($1.09) earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities analysts anticipate that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Trading of Albemarle

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in Albemarle by 25.5% during the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock worth $229,000 after acquiring an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Albemarle by 26.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock valued at $346,000 after purchasing an additional 996 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Albemarle during the first quarter worth approximately $208,000. Empowered Funds LLC bought a new position in shares of Albemarle in the first quarter valued at approximately $411,000. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Albemarle by 25.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,724 shares of the specialty chemicals company’s stock worth $296,000 after acquiring an additional 965 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.