CICC Research Forecasts Strong Price Appreciation for Albemarle (NYSE:ALB) Stock

Albemarle (NYSE:ALB) had its price target upped by CICC Research from $83.28 to $108.58 in a note issued to investors on Wednesday. CICC Research‘s target price suggests a potential upside of 15.98% from the company’s previous close.

ALB has been the topic of a number of other research reports. Deutsche Bank lowered their price objective on Albemarle from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank Of Canada cut their target price on Albemarle from $129.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, November 6th. Morgan Stanley reduced their price target on shares of Albemarle from $161.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday. Weiss Ratings upgraded shares of Albemarle from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. Finally, Rothschild & Co Redburn lowered their target price on Albemarle from $100.00 to $86.00 in a research note on Wednesday. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Albemarle presently has an average rating of “Moderate Buy” and an average target price of $154.16.

Albemarle Price Performance

ALB stock traded down $1.23 during trading on Wednesday, hitting $93.62. The company had a trading volume of 684,465 shares, compared to its average volume of 2,457,325. Albemarle has a fifty-two week low of $89.77 and a fifty-two week high of $221.00. The company has a current ratio of 2.34, a quick ratio of 1.57 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $104.38 and a 200 day moving average of $146.06. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 0.60 and a beta of 1.34.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Albemarle had a net margin of 10.40% and a return on equity of 14.91%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) EPS. As a group, research analysts predict that Albemarle will post 10.70 earnings per share for the current year.

Hedge Funds Weigh In On Albemarle

A number of institutional investors have recently added to or reduced their stakes in ALB. Primecap Management Co. CA bought a new stake in Albemarle during the 2nd quarter worth approximately $358,101,000. Deutsche Bank AG bought a new stake in Albemarle in the second quarter worth approximately $131,049,000. Bank of New York Mellon Corp acquired a new position in shares of Albemarle during the 2nd quarter valued at $103,268,000. Aberdeen Group plc boosted its position in shares of Albemarle by 5,344.0% during the 3rd quarter. Aberdeen Group plc now owns 753,618 shares of the specialty chemicals company’s stock worth $79,718,000 after purchasing an additional 739,775 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Albemarle by 2,981.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 733,793 shares of the specialty chemicals company’s stock worth $77,621,000 after acquiring an additional 709,977 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Company Profile

Albemarle Corporation is a specialty chemicals company that produces lithium, bromine and refining catalysts. Its products serve industries including energy storage, transportation, electronics, petroleum refining and pharmaceuticals. The company supplies lithium compounds used in rechargeable batteries and other applications. It also makes bromine-based products for uses such as flame retardants and water treatment, along with catalysts used in refining petroleum. Albemarle traces its history to 1887 and is headquartered in Charlotte, North Carolina.