Albemarle Corporation (NYSE:ALB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Albemarle Corporation (NYSE:ALB) have earned an average rating of “Moderate Buy” from the thirty ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, thirteen have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $161.16.

Several brokerages have issued reports on ALB. Royal Bank Of Canada increased their target price on shares of Albemarle from $159.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Citigroup upped their price target on shares of Albemarle from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Bank of America lifted their price objective on shares of Albemarle from $118.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Jefferies Financial Group boosted their price objective on shares of Albemarle from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Albemarle in a report on Monday, December 29th.

Hedge Funds Weigh In On Albemarle

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALB. Hantz Financial Services Inc. lifted its position in shares of Albemarle by 10,050.0% during the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 402 shares during the last quarter. Strategic Advocates LLC bought a new position in shares of Albemarle during the 3rd quarter worth approximately $25,000. MH & Associates Securities Management Corp ADV purchased a new stake in Albemarle during the fourth quarter valued at approximately $26,000. CVA Family Office LLC boosted its stake in Albemarle by 7,257.1% in the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 508 shares in the last quarter. Finally, BOKF NA grew its holdings in Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Down 5.1%

Shares of NYSE ALB opened at $184.27 on Thursday. Albemarle has a 52-week low of $49.43 and a 52-week high of $195.68. The firm has a market capitalization of $21.69 billion, a price-to-earnings ratio of -115.89, a PEG ratio of 4.48 and a beta of 1.41. The stock has a 50 day moving average price of $147.69 and a 200 day moving average price of $107.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.51 and a current ratio of 2.27.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.73. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company posted ($1.55) EPS. Albemarle’s revenue was down 3.5% on a year-over-year basis. Sell-side analysts expect that Albemarle will post -0.04 earnings per share for the current year.

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.