Evercore Forecasts Strong Price Appreciation for Albemarle (NYSE:ALB) Stock

Albemarle (NYSE:ALB) had its target price hoisted by Evercore from $100.00 to $180.00 in a report issued on Wednesday,MarketScreener reports. Evercore’s price objective suggests a potential upside of 3.51% from the company’s previous close.

A number of other research analysts also recently issued reports on ALB. Mizuho boosted their target price on shares of Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Oppenheimer lifted their price target on shares of Albemarle from $109.00 to $207.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. BMO Capital Markets raised their target price on Albemarle from $145.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Dbs Bank boosted their target price on Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Jefferies Financial Group increased their price target on Albemarle from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Albemarle has an average rating of “Moderate Buy” and a consensus price target of $167.52.

Albemarle Trading Up 2.9%

Shares of ALB stock traded up $4.98 during trading hours on Wednesday, hitting $173.90. 97,882 shares of the company’s stock traded hands, compared to its average volume of 3,358,120. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. Albemarle has a 12 month low of $49.43 and a 12 month high of $195.68. The stock has a market cap of $20.49 billion, a PE ratio of -30.22, a price-to-earnings-growth ratio of 2.40 and a beta of 1.44. The stock’s 50 day simple moving average is $159.73 and its 200 day simple moving average is $117.07.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.Albemarle’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.09) earnings per share. On average, sell-side analysts anticipate that Albemarle will post -0.04 EPS for the current year.

Institutional Trading of Albemarle

A number of large investors have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC increased its stake in shares of Albemarle by 89.2% during the 4th quarter. Gotham Asset Management LLC now owns 39,803 shares of the specialty chemicals company’s stock worth $5,630,000 after purchasing an additional 18,764 shares during the last quarter. Cinctive Capital Management LP purchased a new position in shares of Albemarle in the fourth quarter worth about $308,000. Concentric Capital Strategies LP purchased a new stake in shares of Albemarle during the 4th quarter valued at approximately $12,996,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Albemarle by 76.5% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 22,252 shares of the specialty chemicals company’s stock worth $3,163,000 after buying an additional 9,646 shares during the period. Finally, Jain Global LLC bought a new stake in Albemarle during the 4th quarter valued at $2,073,000. 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.