Albemarle (NYSE:ALB) Stock Rating Upgraded by Zacks Research

Albemarle (NYSE:ALB) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Several other equities research analysts also recently issued reports on ALB. Morgan Stanley lowered their price objective on shares of Albemarle from $161.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank Of Canada cut their price objective on shares of Albemarle from $129.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, November 6th. Barclays reduced their target price on shares of Albemarle from $109.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, November 6th. Truist Financial reiterated a “buy” rating and set a $170.00 target price (down from $185.00) on shares of Albemarle in a report on Friday, November 6th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $175.00 price target on shares of Albemarle in a research note on Tuesday, October 6th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.05.

Albemarle Price Performance

NYSE ALB opened at $94.98 on Monday. The business has a 50 day simple moving average of $106.02 and a 200 day simple moving average of $147.00. Albemarle has a 52-week low of $89.77 and a 52-week high of $221.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.57 and a current ratio of 2.34. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 0.61 and a beta of 1.34.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. Albemarle had a net margin of 10.40% and a return on equity of 14.91%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the company posted ($0.19) EPS. The business’s quarterly revenue was up 18.8% on a year-over-year basis. Analysts anticipate that Albemarle will post 10.84 earnings per share for the current fiscal year.

Institutional Trading of Albemarle

A number of hedge funds and other institutional investors have recently made changes to their positions in ALB. Addison Advisors LLC bought a new stake in shares of Albemarle in the second quarter worth $28,000. Dakota Community Bank & Trust NA bought a new position in Albemarle in the first quarter valued at $54,000. Fiduciary Financial Advisors acquired a new stake in Albemarle in the 2nd quarter valued at $41,000. Valley National Advisers Inc. increased its stake in Albemarle by 3,700.0% in the 3rd quarter. Valley National Advisers Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 296 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Albemarle during the 2nd quarter worth about $42,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

Albemarle Corporation is a specialty chemicals company that produces lithium, bromine and refining catalysts. Its products serve industries including energy storage, transportation, electronics, petroleum refining and pharmaceuticals. The company supplies lithium compounds used in rechargeable batteries and other applications. It also makes bromine-based products for uses such as flame retardants and water treatment, along with catalysts used in refining petroleum. Albemarle traces its history to 1887 and is headquartered in Charlotte, North Carolina.