Albemarle (NYSE:ALB) Research Coverage Started at Rothschild & Co Redburn

Rothschild & Co Redburn assumed coverage on shares of Albemarle (NYSE:ALB) in a report released on Friday morning, MarketBeat reports. The firm issued a buy rating and a $135.00 price target on the specialty chemicals company’s stock.

Several other brokerages also recently commented on ALB. Mizuho raised their target price on Albemarle from $78.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Truist Financial raised their target price on Albemarle from $72.00 to $87.00 and gave the company a “hold” rating in a report on Monday, October 20th. TD Cowen raised their target price on Albemarle from $70.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Bank of America reiterated a “neutral” rating and set a $100.00 target price (up from $95.00) on shares of Albemarle in a report on Tuesday, October 14th. Finally, Zacks Research upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Two investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $95.33.

Albemarle Stock Performance

Albemarle stock opened at $105.65 on Friday. The stock’s 50-day moving average is $85.52 and its 200-day moving average is $71.54. The company has a market cap of $12.43 billion, a price-to-earnings ratio of -11.34 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. Albemarle has a 12 month low of $49.43 and a 12 month high of $113.91.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.94. The company 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 company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. Equities analysts anticipate that Albemarle will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its position in Albemarle by 10,050.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 402 shares during the period. CVA Family Office LLC boosted its position in Albemarle by 7,257.1% during the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 508 shares during the period. National Pension Service boosted its position in Albemarle by 74.5% during the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 193 shares during the period. Cromwell Holdings LLC boosted its position 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 period. Finally, Costello Asset Management INC acquired a new position in Albemarle during the 1st quarter worth $36,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.