Albemarle (NYSE:ALB) Given New $180.00 Price Target at Citigroup

Albemarle (NYSE:ALB) had its target price boosted by Citigroup from $150.00 to $180.00 in a research report report published on Tuesday morning,MarketScreener reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

A number of other research firms also recently weighed in on ALB. Royal Bank Of Canada increased their price objective on Albemarle from $159.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. UBS Group increased their price target on Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft raised Albemarle from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $185.00 in a research note on Monday, January 12th. Evercore ISI increased their target price on shares of Albemarle from $88.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $161.16.

Albemarle Trading Up 3.4%

Shares of Albemarle stock opened at $170.61 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Albemarle has a 12-month low of $49.43 and a 12-month high of $195.68. The company has a market capitalization of $20.08 billion, a price-to-earnings ratio of -107.30, a PEG ratio of 2.95 and a beta of 1.44. The firm’s 50-day moving average price is $151.93 and its two-hundred day moving average price is $110.73.

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. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the company earned ($1.55) earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts forecast that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

Hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its stake in shares of Albemarle by 10,050.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 402 shares in the last quarter. Strategic Advocates LLC purchased a new position in Albemarle during the third quarter worth about $25,000. MH & Associates Securities Management Corp ADV bought a new stake in Albemarle in the 4th quarter worth about $26,000. CVA Family Office LLC grew its position in Albemarle by 7,257.1% in the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 508 shares in the last quarter. Finally, BOKF NA increased its stake in Albemarle by 5,771.4% in the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.