Albemarle (NYSE:ALB) Price Target Raised to $120.00

Albemarle (NYSE:ALB) had its target price raised by Dbs Bank from $100.00 to $120.00 in a research note issued to investors on Friday morning,MarketScreener reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other research analysts also recently commented on ALB. Deutsche Bank Aktiengesellschaft lifted their target price on Albemarle from $74.00 to $95.00 in a report on Friday, October 17th. Wells Fargo & Company lifted their price objective on Albemarle from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Robert W. Baird lifted their price objective on Albemarle from $58.00 to $68.00 and gave the stock an “underperform” rating in a research report on Friday, August 29th. Royal Bank Of Canada lifted their price objective on Albemarle from $80.00 to $117.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Wall Street Zen raised Albemarle from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.33.

Albemarle Stock Up 8.5%

Shares of ALB opened at $105.65 on Friday. The company has a market capitalization of $12.43 billion, a PE ratio of -11.34 and a beta of 1.65. Albemarle has a 12 month low of $49.43 and a 12 month high of $113.91. The stock’s 50-day moving average price is $85.52 and its two-hundred day moving average price is $71.54. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.83) by $0.94. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. On average, analysts anticipate that Albemarle will post -0.04 EPS for the current year.

Institutional Trading of Albemarle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MGO One Seven LLC increased its position in Albemarle by 9.9% in the 3rd quarter. MGO One Seven LLC now owns 7,625 shares of the specialty chemicals company’s stock valued at $618,000 after buying an additional 684 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Albemarle during the 3rd quarter valued at about $254,000. Oregon Public Employees Retirement Fund boosted its stake in Albemarle by 32.7% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 13,515 shares of the specialty chemicals company’s stock valued at $1,096,000 after purchasing an additional 3,327 shares during the last quarter. Cromwell Holdings LLC boosted its stake in Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 111 shares during the last quarter. Finally, Abbington Investment Group acquired a new position in Albemarle during the 3rd quarter valued at about $333,000. 92.87% of the stock is owned by institutional investors.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.