Albemarle (NYSE:ALB) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Albemarle from “strong sell” to “hold.” Analyst views remain mixed: MarketBeat reports a “Moderate Buy” consensus from 15 Buy and nine Hold ratings, with a $174.05 average price target.
• Albemarle reported quarterly EPS of $2.58, topping the $2.53 consensus, and revenue of $1.55 billion versus estimates of $1.52 billion. Revenue rose 18.8% year over year.
• Shares opened at $94.98, near the company’s 52-week low of $89.77 and well below its high of $221.00.

Albemarle (NYSE:ALB - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Albemarle from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings upgraded shares of Albemarle from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, November 4th. BMO Capital Markets reiterated an "outperform" rating and set a $175.00 target price on shares of Albemarle in a research report on Tuesday, October 6th. Mizuho upgraded Albemarle from a "neutral" rating to an "outperform" rating and set a $130.00 price target on the stock in a research report on Wednesday, October 14th. Finally, Morgan Stanley reduced their price target on Albemarle from $161.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.05.

Albemarle Stock Performance

Albemarle stock opened at $94.98 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.57 and a debt-to-equity ratio of 0.21. Albemarle has a 1 year low of $89.77 and a 1 year high of $221.00. The company has a market cap of $11.21 billion, a PE ratio of 22.94, a PEG ratio of 0.61 and a beta of 1.34. The company's 50-day moving average is $106.02 and its two-hundred day moving average is $147.00.

Albemarle (NYSE:ALB - Get Free Report) last issued its earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Albemarle had a net margin of 10.40% and a return on equity of 14.91%. The company's revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) EPS. Equities analysts anticipate that Albemarle will post 10.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALB. Primecap Management Co. CA acquired a new stake in Albemarle in the second quarter worth $358,101,000. ProShare Advisors LLC grew its holdings in shares of Albemarle by 69.7% in the 3rd quarter. ProShare Advisors LLC now owns 1,436,117 shares of the specialty chemicals company's stock valued at $151,912,000 after buying an additional 589,787 shares during the period. Deutsche Bank AG bought a new stake in shares of Albemarle in the 2nd quarter valued at $131,049,000. Amundi increased its position in shares of Albemarle by 40.5% in the 2nd quarter. Amundi now owns 827,874 shares of the specialty chemicals company's stock valued at $111,784,000 after buying an additional 238,774 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Albemarle during the 2nd quarter worth $103,268,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Company Profile

Albemarle Corporation is a specialty chemicals company that produces lithium, bromine and refining catalysts. Its products serve industries including energy storage, transportation, electronics, petroleum refining and pharmaceuticals. The company supplies lithium compounds used in rechargeable batteries and other applications. It also makes bromine-based products for uses such as flame retardants and water treatment, along with catalysts used in refining petroleum. Albemarle traces its history to 1887 and is headquartered in Charlotte, North Carolina.

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