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

Albemarle (NYSE:ALB) had its price target upped by equities research analysts at Argus from $185.00 to $230.00 in a research report issued to clients and investors on Monday,MarketScreener reports. Argus’ price target suggests a potential upside of 12.90% from the stock’s current price.

Several other research firms have also weighed in on ALB. Royal Bank Of Canada lifted their price objective on shares of Albemarle from $216.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Zacks Research lowered shares of Albemarle from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 17th. Rothschild & Co Redburn cut shares of Albemarle from a “buy” rating to a “neutral” rating and set a $188.00 price objective for the company. in a research report on Wednesday, April 22nd. Finally, Mizuho raised their price objective on Albemarle from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $191.83.

Albemarle Stock Up 0.1%

Shares of Albemarle stock opened at $203.72 on Monday. The business has a fifty day simple moving average of $179.56 and a 200 day simple moving average of $154.41. The stock has a market cap of $24.02 billion, a PE ratio of -59.74, a price-to-earnings-growth ratio of 1.46 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. Albemarle has a 12 month low of $53.70 and a 12 month high of $221.00.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $1.24 by $1.71. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Research analysts predict that Albemarle will post 8.72 EPS for the current year.

Insider Transactions at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total value of $2,012,654.23. Following the sale, the chief executive officer owned 134,628 shares in the company, valued at approximately $22,995,808.68. The trade was a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Albemarle by 4.4% in the first quarter. PNC Financial Services Group Inc. now owns 41,689 shares of the specialty chemicals company’s stock valued at $7,484,000 after purchasing an additional 1,776 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in Albemarle by 45.5% during the first quarter. Baader Bank Aktiengesellschaft now owns 2,281 shares of the specialty chemicals company’s stock worth $410,000 after purchasing an additional 713 shares during the last quarter. DJE Kapital AG bought a new position in Albemarle in the first quarter valued at $6,035,000. Parallel Advisors LLC grew its position in Albemarle by 4.9% in the first quarter. Parallel Advisors LLC now owns 2,588 shares of the specialty chemicals company’s stock valued at $465,000 after purchasing an additional 120 shares in the last quarter. Finally, KBC Group NV increased its stake in Albemarle by 6.6% in the 1st quarter. KBC Group NV now owns 3,710 shares of the specialty chemicals company’s stock valued at $666,000 after buying an additional 230 shares during the last quarter. 92.87% of the stock is owned by 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.