Albemarle (NYSE:ALB) Given Neutral Rating at Bank of America

Key Points

• Albemarle's stock has been given a "neutral" rating by Bank of America, with a price target increased to $100.00, indicating a potential upside from its previous close.
• Other analysts have varying opinions on Albemarle, with price targets ranging from $70.00 to $92.00, while the overall average rating remains at "Hold."
• Albemarle recently reported quarterly earnings, exceeding analysts' expectations with revenue of $1.33 billion, despite a year-over-year revenue decline of 7%.

Albemarle (NYSE:ALB - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at Bank of America in a research report issued on Tuesday,Benzinga reports. They currently have a $100.00 price target on the specialty chemicals company's stock, up from their prior price target of $95.00. Bank of America's price objective indicates a potential upside of 3.95% from the company's previous close.

Other analysts also recently issued reports about the company. UBS Group decreased their price target on Albemarle from $89.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, October 6th. Wells Fargo & Company decreased their price target on Albemarle from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Scotiabank increased their price target on Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. TD Cowen increased their price target on Albemarle from $70.00 to $85.00 and gave the stock a "hold" rating in a report on Thursday, October 9th. Finally, Mizuho increased their price objective on shares of Albemarle from $78.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $87.95.

Albemarle Stock Performance

NYSE ALB opened at $96.20 on Tuesday. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of -10.32 and a beta of 1.65. Albemarle has a twelve month low of $49.43 and a twelve month high of $113.91. The stock has a fifty day simple moving average of $81.93 and a 200 day simple moving average of $69.41. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.83) by $0.94. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $0.04 EPS. The business's revenue was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. Sell-side analysts expect that Albemarle will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Albemarle

Large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its position in Albemarle by 10,050.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company's stock valued at $25,000 after acquiring an additional 402 shares in the last quarter. CVA Family Office LLC lifted its position in Albemarle by 7,257.1% in the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company's stock valued at $32,000 after acquiring an additional 508 shares in the last quarter. National Pension Service lifted its position in Albemarle by 74.5% in the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 193 shares in the last quarter. Costello Asset Management INC bought a new position in Albemarle in the 1st quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC lifted its position in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock valued at $36,000 after acquiring an additional 483 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

About Albemarle

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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