Albemarle (NYSE:ALB) Price Target Raised to $195.00 at JPMorgan Chase & Co.

Albemarle (NYSE:ALB) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $80.00 to $195.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 5.31% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Hsbc Global Res upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Zacks Research upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Albemarle from a “hold” rating to a “buy” rating and upped their price target for the company from $125.00 to $185.00 in a report on Monday, January 12th. Argus raised their price target on Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Truist Financial raised Albemarle from a “hold” rating to a “buy” rating and raised their price objective for the stock from $125.00 to $205.00 in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Albemarle currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.16.

Albemarle Trading Down 4.6%

NYSE:ALB traded down $9.02 during mid-day trading on Wednesday, hitting $185.16. 2,327,535 shares of the company’s stock were exchanged, compared to its average volume of 3,529,267. 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 has a fifty-two week low of $49.43 and a fifty-two week high of $195.68. The company has a 50 day simple moving average of $146.52 and a 200-day simple moving average of $107.17. The firm has a market capitalization of $21.79 billion, a P/E ratio of -116.30, a PEG ratio of 4.14 and a beta of 1.41.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.73. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned ($1.55) earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts expect that Albemarle will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALB. MH & Associates Securities Management Corp ADV acquired a new position in Albemarle during the 4th quarter valued at approximately $26,000. Strategic Advocates LLC bought a new stake in shares of Albemarle during the 3rd quarter worth $25,000. Hantz Financial Services Inc. boosted its holdings in Albemarle by 10,050.0% during 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. BOKF NA boosted its stake 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 purchasing an additional 404 shares during the period. Finally, Cromwell Holdings LLC increased its position in Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 111 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.