Albemarle (NYSE:ALB) Stock Price Expected to Rise, Argus Analyst Says

Key Points

• Argus analysts raised their target price for Albemarle (NYSE:ALB) from $90.00 to $120.00, indicating a potential upside of 29.73% from its last closing price.
• Albemarle's stock has received mixed ratings, with one analyst rating it as Strong Buy, while others have placed it as strong sell, neutral, and sector perform.
• The company reported earnings of $0.11 per share, beating estimates despite a year-over-year revenue decline of 7.0%.

Albemarle (NYSE:ALB - Get Free Report) had its target price raised by research analysts at Argus from $90.00 to $120.00 in a research note issued on Tuesday,MarketScreener reports. Argus' price target suggests a potential upside of 29.73% from the stock's previous close.

ALB has been the topic of a number of other reports. Baird R W downgraded Albemarle from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 29th. Cowen reissued a "hold" rating on shares of Albemarle in a research note on Thursday. KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Albemarle from $60.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Finally, Scotiabank upped their price objective on shares of Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Albemarle currently has an average rating of "Hold" and an average price target of $89.41.

Albemarle Trading Down 4.0%

Shares of Albemarle stock opened at $92.50 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $81.93 and a two-hundred day moving average of $69.41. Albemarle has a 12-month low of $49.43 and a 12-month high of $113.91. The stock has a market cap of $10.89 billion, a PE ratio of -9.97 and a beta of 1.65.

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

Institutional Investors Weigh In On Albemarle

Several hedge funds have recently made changes to their positions in ALB. Hantz Financial Services Inc. raised its stake in Albemarle by 10,050.0% during the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company's stock worth $25,000 after purchasing an additional 402 shares during the period. CVA Family Office LLC grew its position in Albemarle by 7,257.1% in the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 508 shares in the last quarter. National Pension Service boosted its holdings 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 purchasing an additional 193 shares during the period. Costello Asset Management INC acquired a new stake in Albemarle in the 1st quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Albemarle by 536.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 483 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Company Profile

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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