JPMorgan Chase & Co. Boosts Albemarle (NYSE:ALB) Price Target to $195.00

Albemarle (NYSE:ALB) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $80.00 to $195.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.01% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft raised Albemarle from a “hold” rating to a “buy” rating and increased their price target for the company from $125.00 to $185.00 in a report on Monday, January 12th. Zacks Research raised Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. BMO Capital Markets lifted their price target on Albemarle from $145.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. TD Cowen reissued a “hold” rating on shares of Albemarle in a research report on Thursday, October 9th. Finally, Rothschild Redb upgraded shares of Albemarle to a “strong-buy” rating in a research report on Friday, October 24th. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Albemarle has an average rating of “Moderate Buy” and a consensus price target of $161.16.

Albemarle Price Performance

Shares of NYSE ALB opened at $180.54 on Wednesday. The firm has a 50-day simple moving average of $148.97 and a 200-day simple moving average of $108.22. 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 stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of -113.54, a price-to-earnings-growth ratio of 4.26 and a beta of 1.41. Albemarle has a 52 week low of $49.43 and a 52 week high of $195.68.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.73. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations 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 prior year, the company earned ($1.55) EPS. On average, equities analysts predict that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

A number of institutional investors have recently made changes to their positions in ALB. Geode Capital Management LLC raised its stake in shares of Albemarle by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,954,331 shares of the specialty chemicals company’s stock valued at $184,782,000 after acquiring an additional 59,104 shares during the period. ProShare Advisors LLC increased its holdings in Albemarle by 48.5% in the 2nd quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock valued at $179,870,000 after purchasing an additional 937,538 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Albemarle in the 3rd quarter valued at approximately $138,723,000. Dimensional Fund Advisors LP raised its position in Albemarle by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,475,832 shares of the specialty chemicals company’s stock valued at $119,710,000 after purchasing an additional 52,698 shares during the period. Finally, Northern Trust Corp lifted its stake in Albemarle by 1.8% during the third quarter. Northern Trust Corp now owns 1,263,734 shares of the specialty chemicals company’s stock worth $102,464,000 after purchasing an additional 22,856 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

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.