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

Key Points

• TD Cowen analysts have raised their price target for Albemarle from $70.00 to $85.00, while maintaining a "hold" rating; however, this targets a potential downside of 14.22% from the stock's previous close.
• Institutional investors own approximately 92.87% of Albemarle's shares, indicating strong backing from large financial entities, with notable increases in holdings from several institutions in the first quarter.
• Albemarle reported earnings of $0.11 per share last quarter, exceeding consensus estimates significantly, despite a 7% decline in year-over-year revenue.

Albemarle (NYSE:ALB - Get Free Report) had its price objective upped by investment analysts at TD Cowen from $70.00 to $85.00 in a research report issued on Thursday,MarketScreener reports. The firm currently has a "hold" rating on the specialty chemicals company's stock. TD Cowen's price objective indicates a potential downside of 14.22% from the stock's previous close.

Several other research firms also recently weighed in on ALB. Baird R W downgraded Albemarle from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 29th. Wall Street Zen upgraded Albemarle from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Wells Fargo & Company reduced their price objective on Albemarle from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Scotiabank boosted their price objective on Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft set a $74.00 target price on Albemarle and gave the stock a "hold" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $87.35.

Albemarle Trading Up 8.1%

Shares of ALB stock traded up $7.40 on Thursday, hitting $99.09. The stock had a trading volume of 1,193,457 shares, compared to its average volume of 3,558,416. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. The firm has a market capitalization of $11.66 billion, a P/E ratio of -10.64 and a beta of 1.65. Albemarle has a 1 year low of $49.43 and a 1 year high of $113.91. The company's 50 day moving average price is $80.37 and its 200-day moving average price is $69.11.

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 the consensus estimate 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business earned $0.04 EPS. Albemarle's revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. Analysts anticipate that Albemarle will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Park Avenue Securities LLC raised its stake in Albemarle by 21.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,966 shares of the specialty chemicals company's stock valued at $574,000 after purchasing an additional 1,414 shares during the period. Yousif Capital Management LLC increased its stake in shares of Albemarle by 14.9% in the first quarter. Yousif Capital Management LLC now owns 84,162 shares of the specialty chemicals company's stock worth $6,061,000 after acquiring an additional 10,892 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Albemarle by 1,153.5% in the first quarter. SG Americas Securities LLC now owns 52,135 shares of the specialty chemicals company's stock worth $3,755,000 after acquiring an additional 47,976 shares during the last quarter. CX Institutional acquired a new position in shares of Albemarle in the first quarter worth $93,000. Finally, Ferguson Wellman Capital Management Inc. increased its stake in shares of Albemarle by 12.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 4,595 shares of the specialty chemicals company's stock worth $331,000 after acquiring an additional 500 shares during 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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