Albemarle (NYSE:ALB) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Albemarle from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $190.26.
• Albemarle shares opened at $136.07, well below their 52-week high of $221.00; the stock’s 50-day moving average was $134.05 versus a 200-day average of $162.41.
• The company exceeded quarterly expectations, reporting $3.75 in earnings per share versus the $3.20 consensus and $1.74 billion in revenue, up 31.1% year over year.

Albemarle (NYSE:ALB - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Albemarle from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Vertical Research upgraded Albemarle from a "hold" rating to a "buy" rating and set a $224.00 price objective on the stock in a research note on Tuesday, May 26th. Truist Financial dropped their price objective on Albemarle from $245.00 to $225.00 and set a "buy" rating for the company in a report on Friday, August 7th. Scotiabank cut their target price on Albemarle from $200.00 to $190.00 and set a "sector outperform" rating for the company in a research report on Monday. Finally, HSBC increased their target price on Albemarle from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $190.26.

Albemarle Price Performance

NYSE:ALB opened at $136.07 on Friday. Albemarle has a 52 week low of $71.25 and a 52 week high of $221.00. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of 504.00 and a beta of 1.33. The firm's 50-day simple moving average is $134.05 and its 200 day simple moving average is $162.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $0.11 EPS. The business's revenue for the quarter was up 31.1% compared to the same quarter last year. As a group, sell-side analysts predict that Albemarle will post 11.91 earnings per share for the current year.

Institutional Investors Weigh In On Albemarle

A number of large investors have recently modified their holdings of ALB. Evexia Wealth LLC raised its holdings in shares of Albemarle by 2.3% during the 1st quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company's stock worth $387,000 after buying an additional 47 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Albemarle by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company's stock worth $349,000 after buying an additional 60 shares during the last quarter. Eaton Financial Holdings Company LLC boosted its stake in Albemarle by 1.2% in the fourth quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company's stock valued at $816,000 after buying an additional 66 shares in the last quarter. Sigma Planning Corp boosted its stake in Albemarle by 2.3% in the first quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company's stock valued at $530,000 after buying an additional 66 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its position in Albemarle by 1.9% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company's stock valued at $508,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds 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.

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