Albemarle Corporation (NYSE:ALB) Receives Average Recommendation of “Moderate Buy” from Analysts

Albemarle Corporation (NYSE:ALB) has been assigned an average recommendation of “Moderate Buy” from the thirty ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, thirteen have given a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $161.16.

Several equities analysts recently issued reports on ALB shares. Citigroup upped their target price on Albemarle from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Morgan Stanley reissued an “equal weight” rating on shares of Albemarle in a report on Friday, December 19th. Stephens restated an “outperform” rating on shares of Albemarle in a research note on Friday, December 19th. Rothschild & Co Redburn upped their target price on Albemarle from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Zacks Research upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th.

Albemarle Trading Down 3.4%

Shares of NYSE:ALB opened at $164.85 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.51. The firm has a market capitalization of $19.40 billion, a P/E ratio of -103.68, a P/E/G ratio of 3.05 and a beta of 1.41. The business’s 50-day moving average is $151.02 and its 200 day moving average is $110.07. Albemarle has a 1 year low of $49.43 and a 1 year high of $195.68.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.73. The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.55) earnings per share. On average, research analysts predict that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALB. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle during the 4th quarter worth about $26,000. Torren Management LLC acquired a new stake in Albemarle during the fourth quarter worth about $38,000. Strategic Advocates LLC purchased a new position in Albemarle during the third quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its holdings in Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 402 shares during the period. Finally, BOKF NA boosted its position in Albemarle by 5,771.4% in the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 404 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.