Argus Forecasts Strong Price Appreciation for Albemarle (NYSE:ALB) Stock

Albemarle (NYSE:ALB) had its price objective hoisted by research analysts at Argus from $140.00 to $185.00 in a report issued on Monday,MarketScreener reports. Argus’ price target suggests a potential downside of 1.00% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Berenberg Bank set a $153.00 target price on shares of Albemarle in a research report on Monday. Stephens reissued an “outperform” rating on shares of Albemarle in a research note on Friday, December 19th. Deutsche Bank Aktiengesellschaft boosted their target price on Albemarle from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Mizuho boosted their price objective on Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Finally, Morgan Stanley increased their target price on Albemarle from $147.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.04.

Albemarle Stock Performance

Albemarle stock opened at $186.87 on Monday. The stock has a 50-day simple moving average of $163.89 and a 200 day simple moving average of $120.74. The stock has a market capitalization of $22.02 billion, a price-to-earnings ratio of -32.50, a P/E/G ratio of 1.58 and a beta of 1.44. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. Albemarle has a 12-month low of $49.43 and a 12-month high of $195.68.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned ($1.09) EPS. On average, research analysts anticipate that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

Several hedge funds have recently added to or reduced their stakes in ALB. Hantz Financial Services Inc. grew its stake in Albemarle by 10,050.0% in the 2nd 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 third quarter worth approximately $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle during the 4th quarter worth approximately $26,000. BOKF NA boosted 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 purchasing an additional 404 shares during the period. Finally, Cromwell Holdings LLC grew its holdings in Albemarle by 36.8% in the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 111 shares in 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.