Albemarle (NYSE:ALB) Given New $225.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target on Albemarle to $225 (from $190) and kept a Buy rating, implying roughly a 13.95% upside from the prior close.
• Analyst views are mixed—one Strong Buy, 13 Buy, 12 Hold and 2 Sell—giving an overall average rating of Hold and an average price target of $174, signaling divergence among brokers.
• In the latest quarter Albemarle reported EPS of -$0.53 (miss) but revenue of $1.43 billion (beat) with revenue up 15.9% year-over-year, while the company remains unprofitable (net margin -10.74%); additionally, CEO J. Kent Masters sold 11,783 shares, reducing his stake.

Albemarle (NYSE:ALB - Get Free Report) had its price objective upped by analysts at Bank of America from $190.00 to $225.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the specialty chemicals company's stock. Bank of America's price objective suggests a potential upside of 13.95% from the stock's previous close.

ALB has been the topic of several other reports. Mizuho raised their target price on shares of Albemarle from $156.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, February 12th. Robert W. Baird reiterated a "neutral" rating and issued a $210.00 price objective on shares of Albemarle in a report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Albemarle from $195.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, February 13th. HSBC upgraded shares of Albemarle from a "hold" rating to a "buy" rating and set a $200.00 price objective on the stock in a report on Monday, January 19th. Finally, Zacks Research downgraded shares of Albemarle from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $174.00.

Albemarle Stock Up 1.4%

ALB stock traded up $2.63 during mid-day trading on Tuesday, hitting $197.46. 260,821 shares of the company were exchanged, compared to its average volume of 2,681,079. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23. The firm has a market cap of $23.28 billion, a P/E ratio of -34.38, a P/E/G ratio of 1.54 and a beta of 1.43. The firm's 50 day simple moving average is $174.37 and its 200 day simple moving average is $146.60. Albemarle has a 1-year low of $53.33 and a 1-year high of $215.71.

Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). The company had revenue of $1.43 billion for 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%.The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted ($1.09) earnings per share. On average, sell-side analysts predict that Albemarle will post 8.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of Albemarle stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the completion of the transaction, the chief executive officer directly owned 134,628 shares of the company's stock, valued at $22,995,808.68. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Albemarle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Decker Retirement Planning Inc. bought a new position in Albemarle during the first quarter worth $3,905,000. Louisiana State Employees Retirement System bought a new stake in shares of Albemarle in the first quarter valued at about $1,077,000. Parkway Wealth Management Group LLC boosted its position in shares of Albemarle by 30.9% in the first quarter. Parkway Wealth Management Group LLC now owns 19,700 shares of the specialty chemicals company's stock valued at $3,395,000 after acquiring an additional 4,649 shares during the period. Fairvoy Private Wealth LLC bought a new stake in shares of Albemarle in the first quarter valued at about $780,000. Finally, Norway Savings Bank boosted its position in shares of Albemarle by 12.7% in the first quarter. Norway Savings Bank now owns 8,580 shares of the specialty chemicals company's stock valued at $1,540,000 after acquiring an additional 964 shares during the period. 92.87% of the stock is owned by institutional investors.

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.

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