A number of firms have modified their ratings and price targets on shares of Albemarle (NYSE: ALB) recently:
- 4/11/2024 – Albemarle had its price target raised by analysts at Wells Fargo & Company from $135.00 to $145.00. They now have an “overweight” rating on the stock.
- 4/11/2024 – Albemarle was upgraded by analysts at Berenberg Bank from a “hold” rating to a “buy” rating. They now have a $160.00 price target on the stock, up previously from $130.00.
- 4/10/2024 – Albemarle had its price target raised by analysts at Citigroup Inc. from $125.00 to $135.00. They now have a “neutral” rating on the stock.
- 4/10/2024 – Albemarle was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $156.00 price target on the stock, up previously from $137.00.
- 3/15/2024 – Albemarle had its price target lowered by analysts at Loop Capital from $168.00 to $162.00. They now have a “buy” rating on the stock.
- 3/8/2024 – Albemarle was downgraded by analysts at Vertical Research from a “buy” rating to a “hold” rating. They now have a $145.00 price target on the stock.
- 3/7/2024 – Albemarle had its price target lowered by analysts at KeyCorp from $178.00 to $159.00. They now have an “overweight” rating on the stock.
- 3/7/2024 – Albemarle had its price target lowered by analysts at Mizuho from $115.00 to $112.00. They now have a “neutral” rating on the stock.
- 3/1/2024 – Albemarle is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
- 2/27/2024 – Albemarle had its price target raised by analysts at Mizuho from $105.00 to $115.00. They now have a “neutral” rating on the stock.
Albemarle Stock Down 2.3 %
Shares of NYSE ALB opened at $111.77 on Friday. Albemarle Co. has a 52-week low of $106.69 and a 52-week high of $247.44. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The company’s 50-day simple moving average is $123.12 and its 200-day simple moving average is $129.82. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 2.31 and a beta of 1.62.
Albemarle (NYSE:ALB – Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 EPS for the quarter, topping the consensus estimate of $0.99 by $0.86. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.18 billion. Albemarle had a return on equity of 26.62% and a net margin of 16.36%. Albemarle’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $8.62 EPS. Equities analysts predict that Albemarle Co. will post 3.09 EPS for the current fiscal year.
Albemarle Announces Dividend
Hedge Funds Weigh In On Albemarle
Several hedge funds and other institutional investors have recently modified their holdings of ALB. Assetmark Inc. purchased a new stake in shares of Albemarle in the third quarter valued at approximately $25,000. USCF Advisers LLC grew its position in Albemarle by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Covestor Ltd increased its stake in Albemarle by 51.2% during the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 44 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in Albemarle in the fourth quarter valued at $30,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Albemarle by 2,942.9% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 206 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.
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