Citigroup Issues Positive Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price objective hoisted by research analysts at Citigroup from $150.00 to $180.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price objective would indicate a potential upside of 0.81% from the stock’s previous close.

ALB has been the topic of a number of other reports. Royal Bank Of Canada raised their price target on shares of Albemarle from $159.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday. Cowen restated a “hold” rating on shares of Albemarle in a research note on Thursday, October 9th. UBS Group upped their price target on Albemarle from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Robert W. Baird set a $210.00 price objective on Albemarle and gave the company an “outperform” rating in a report on Wednesday, January 7th. Finally, Zacks Research upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.48.

Albemarle Trading Up 3.5%

Shares of NYSE ALB traded up $6.01 during trading hours on Wednesday, reaching $178.55. The stock had a trading volume of 2,614,202 shares, compared to its average volume of 3,575,183. Albemarle has a 52-week low of $49.43 and a 52-week high of $181.06. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of -112.32, a P/E/G ratio of 6.22 and a beta of 1.41. The business’s fifty day moving average price is $139.27 and its two-hundred day moving average price is $103.02. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.73. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.55) EPS. Analysts expect that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Trading of Albemarle

Hedge funds have recently added to or reduced their stakes in the company. Strategic Advocates LLC purchased a new position in shares of Albemarle in the third quarter valued at approximately $25,000. Hantz Financial Services Inc. raised 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 purchasing an additional 402 shares during the last quarter. BOKF NA lifted its holdings 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 in the last quarter. Cromwell Holdings LLC lifted 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 purchasing an additional 111 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new stake in Albemarle during the 3rd quarter worth $40,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.