Albemarle (NYSE:ALB) Given New $216.00 Price Target at Royal Bank Of Canada

Albemarle (NYSE:ALB) had its price target boosted by Royal Bank Of Canada from $200.00 to $216.00 in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have an outperform rating on the specialty chemicals company’s stock.

ALB has been the subject of a number of other reports. Rothschild & Co Redburn increased their price target on Albemarle from $158.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Oppenheimer upped their target price on shares of Albemarle from $109.00 to $207.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Scotiabank upgraded shares of Albemarle from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $85.00 to $200.00 in a report on Monday, January 12th. Truist Financial upgraded shares of Albemarle from a “hold” rating to a “buy” rating and boosted their price target for the stock from $125.00 to $205.00 in a report on Wednesday, January 21st. Finally, Morgan Stanley upped their price objective on shares of Albemarle from $147.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.32.

Albemarle Price Performance

Shares of NYSE ALB opened at $168.72 on Tuesday. Albemarle has a fifty-two week low of $49.43 and a fifty-two week high of $195.68. The stock has a market cap of $19.88 billion, a price-to-earnings ratio of -29.34, a PEG ratio of 2.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23. The firm’s 50-day simple moving average is $159.73 and its 200 day simple moving average is $117.07.

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

Institutional Investors Weigh In On Albemarle

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. boosted its holdings in shares of Albemarle by 10,050.0% in the second 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 during the period. Strategic Advocates LLC bought a new stake in shares of Albemarle during the 3rd quarter valued at $25,000. MH & Associates Securities Management Corp ADV purchased a new stake in Albemarle during the 4th quarter worth about $26,000. CVA Family Office LLC boosted its stake 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 during the period. Finally, BOKF NA grew its holdings in Albemarle by 5,771.4% during 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 in the last quarter. 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.