Rothschild & Co Redburn Issues Positive Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price target upped by Rothschild & Co Redburn from $158.00 to $185.00 in a research report report published on Tuesday,MarketScreener reports. Rothschild & Co Redburn currently has a buy rating on the specialty chemicals company’s stock.

Other equities research analysts have also issued reports about the company. Scotiabank upgraded Albemarle from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $85.00 to $200.00 in a research report on Monday, January 12th. Robert W. Baird set a $210.00 target price on shares of Albemarle and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada increased their price target on shares of Albemarle from $159.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. BMO Capital Markets boosted their price objective on shares of Albemarle from $145.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, Dbs Bank raised their target price on shares of Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Albemarle currently has an average rating of “Moderate Buy” and a consensus price target of $162.24.

Albemarle Trading Up 1.6%

ALB opened at $168.40 on Tuesday. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of -105.91, a PEG ratio of 2.39 and a beta of 1.44. Albemarle has a one year low of $49.43 and a one year high of $195.68. The business has a 50 day simple moving average of $155.57 and a two-hundred day simple moving average of $113.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.51.

Hedge Funds Weigh In On Albemarle

A number of hedge funds have recently bought and sold shares of ALB. TD Asset Management Inc boosted its holdings in shares of Albemarle by 10.6% during the 4th quarter. TD Asset Management Inc now owns 28,679 shares of the specialty chemicals company’s stock valued at $4,056,000 after acquiring an additional 2,743 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Albemarle during the fourth quarter valued at approximately $229,000. CIBC Asset Management Inc lifted its position in Albemarle by 74.1% during the fourth quarter. CIBC Asset Management Inc now owns 26,361 shares of the specialty chemicals company’s stock valued at $3,728,000 after purchasing an additional 11,218 shares during the period. Bank of New York Mellon Corp boosted its holdings in Albemarle by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 890,327 shares of the specialty chemicals company’s stock worth $125,928,000 after purchasing an additional 158,713 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Albemarle by 57.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,241,106 shares of the specialty chemicals company’s stock worth $175,542,000 after purchasing an additional 453,881 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.