BMO Capital Markets Increases Albemarle (NYSE:ALB) Price Target to $210.00

Albemarle (NYSE:ALB) had its price target hoisted by equities research analysts at BMO Capital Markets from $145.00 to $210.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 16.65% from the company’s previous close.

Several other equities analysts also recently issued reports on ALB. Weiss Ratings reissued a “sell (d+)” rating on shares of Albemarle in a research report on Monday, December 29th. Dbs Bank increased their price objective on Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 24th. Wells Fargo & Company raised their price objective on Albemarle from $100.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, December 19th. HSBC upgraded Albemarle from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Monday. Finally, Jefferies Financial Group increased their price target on shares of Albemarle from $152.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.48.

Albemarle Stock Performance

ALB opened at $180.03 on Tuesday. The company has a market cap of $21.19 billion, a P/E ratio of -113.23, a price-to-earnings-growth ratio of 4.49 and a beta of 1.41. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $140.67 and its 200-day moving average price is $103.56. Albemarle has a 52-week low of $49.43 and a 52-week high of $181.06.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.73. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. Albemarle’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.55) EPS. As a group, equities analysts anticipate that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Albemarle

Hedge funds have recently modified their holdings of the company. PGGM Investments raised its stake in Albemarle by 10.8% in the 3rd quarter. PGGM Investments now owns 1,185,005 shares of the specialty chemicals company’s stock valued at $96,080,000 after purchasing an additional 115,081 shares during the last quarter. Occidental Asset Management LLC purchased a new stake in shares of Albemarle during the third quarter worth $3,313,000. CWM LLC raised its position in shares of Albemarle by 14.8% in the third quarter. CWM LLC now owns 165,074 shares of the specialty chemicals company’s stock valued at $13,384,000 after buying an additional 21,257 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Albemarle in the second quarter valued at about $267,000. Finally, Empower Advisory Group LLC lifted its stake in shares of Albemarle by 11.4% in the second quarter. Empower Advisory Group LLC now owns 866,575 shares of the specialty chemicals company’s stock worth $54,308,000 after buying an additional 88,457 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Company Profile

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.