Evercore ISI Forecasts Strong Price Appreciation for Albemarle (NYSE:ALB) Stock

Albemarle (NYSE:ALB) had its price objective hoisted by research analysts at Evercore ISI from $88.00 to $100.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has an “in-line” rating on the specialty chemicals company’s stock. Evercore ISI’s price target indicates a potential downside of 9.34% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Truist Financial increased their target price on shares of Albemarle from $87.00 to $91.00 and gave the stock a “hold” rating in a report on Friday, November 7th. TD Cowen increased their price objective on shares of Albemarle from $70.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Rothschild Redb upgraded Albemarle to a “strong-buy” rating in a report on Friday, October 24th. Robert W. Baird upped their target price on Albemarle from $68.00 to $81.00 and gave the stock an “underperform” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company raised their price target on Albemarle from $70.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Albemarle has an average rating of “Hold” and a consensus target price of $97.71.

Albemarle Stock Up 6.2%

ALB stock opened at $110.30 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. The stock has a market capitalization of $12.98 billion, a P/E ratio of -11.83 and a beta of 1.70. Albemarle has a fifty-two week low of $49.43 and a fifty-two week high of $113.91. The business has a 50-day moving average of $89.57 and a 200-day moving average of $75.37.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.73. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business posted ($1.55) EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

A number of large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its position in Albemarle by 10,050.0% during the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 402 shares during the period. CVA Family Office LLC lifted its stake in shares of Albemarle by 7,257.1% during the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 508 shares during the last quarter. National Pension Service boosted its holdings in shares of Albemarle by 74.5% during the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 193 shares during the period. Cromwell Holdings LLC boosted its holdings in shares of Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 111 shares during the period. Finally, Costello Asset Management INC acquired a new position in Albemarle in the 1st quarter valued at about $36,000. Institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

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.