Albemarle (NYSE:ALB) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Albemarle (NYSE:ALB) had its target price lifted by stock analysts at Royal Bank Of Canada from $253.00 to $257.00 in a research note issued on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 47.62% from the stock’s previous close.

ALB has been the topic of several other research reports. Argus upped their price objective on Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wells Fargo & Company upped their price target on Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Oppenheimer raised their price objective on Albemarle from $216.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, Citigroup lifted their price objective on shares of Albemarle from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.42.

Albemarle Stock Performance

Albemarle stock opened at $174.09 on Tuesday. Albemarle has a 52 week low of $53.70 and a 52 week high of $221.00. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The stock has a market cap of $20.53 billion, a P/E ratio of -51.05, a price-to-earnings-growth ratio of 0.86 and a beta of 1.36. The stock has a 50 day moving average of $182.70 and a 200-day moving average of $161.92.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. The business’s revenue was up 32.7% compared to the same quarter last year. On average, analysts expect that Albemarle will post 12.45 EPS for the current fiscal year.

Insider Activity

In related news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $183.72, for a total value of $3,011,721.96. Following the completion of the transaction, the chief executive officer directly owned 87,519 shares of the company’s stock, valued at $16,078,990.68. This represents a 15.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of Albemarle

Several hedge funds have recently added to or reduced their stakes in ALB. Norges Bank acquired a new position in shares of Albemarle during the fourth quarter valued at $165,271,000. Phoenix Financial Ltd. acquired a new stake in Albemarle in the fourth quarter worth about $130,415,000. Northwestern Mutual Wealth Management Co. grew its position in Albemarle by 4,338.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 738,430 shares of the specialty chemicals company’s stock valued at $104,444,000 after buying an additional 721,793 shares in the last quarter. AQR Capital Management LLC increased its stake in Albemarle by 22,047.4% during the 2nd quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company’s stock valued at $44,613,000 after buying an additional 710,589 shares during the period. Finally, Samlyn Capital LLC acquired a new position in Albemarle during the 3rd quarter valued at about $47,088,000. Institutional investors own 92.87% of the company’s stock.

About Albemarle

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.