Dbs Bank Issues Positive Forecast for Albemarle (NYSE:ALB) Stock Price

Key Points

• Dbs Bank has raised its price target for Albemarle's stock from $100.00 to $120.00, indicating a potential upside of 15.75%.
• The current average rating for Albemarle among analysts is "Hold," with a consensus price target of $95.33.
• Albemarle's shares increased by 6.5% to reach $103.67, with a total volume of 702,752 shares traded.

Albemarle (NYSE:ALB - Get Free Report) had its price target lifted by research analysts at Dbs Bank from $100.00 to $120.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage currently has a "buy" rating on the specialty chemicals company's stock. Dbs Bank's price objective would suggest a potential upside of 15.75% from the stock's current price.

ALB has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Albemarle from $74.00 to $95.00 in a research note on Friday, October 17th. Truist Financial increased their price objective on shares of Albemarle from $72.00 to $87.00 and gave the company a "hold" rating in a report on Monday. JPMorgan Chase & Co. increased 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. Wall Street Zen upgraded shares of Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Wells Fargo & Company boosted their price target on shares of Albemarle from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Albemarle presently has an average rating of "Hold" and a consensus price target of $95.33.

Albemarle Stock Up 6.5%

Shares of NYSE ALB traded up $6.31 during trading hours on Friday, hitting $103.67. 702,752 shares of the stock were exchanged, compared to its average volume of 3,552,472. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. The company has a market cap of $12.20 billion, a PE ratio of -11.10 and a beta of 1.65. The firm has a fifty day moving average price of $85.05 and a 200-day moving average price of $70.93. Albemarle has a 12 month low of $49.43 and a 12 month high of $113.91.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 prior year, the business posted $0.04 EPS. Albemarle's revenue for the quarter was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Albemarle will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Albemarle

Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its holdings in shares of Albemarle by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 13,777 shares of the specialty chemicals company's stock valued at $992,000 after buying an additional 375 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Albemarle by 24.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,541 shares of the specialty chemicals company's stock worth $3,136,000 after purchasing an additional 8,572 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Albemarle by 15.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,474 shares of the specialty chemicals company's stock worth $250,000 after purchasing an additional 458 shares during the period. Asset Management One Co. Ltd. boosted its stake in Albemarle by 1.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 44,729 shares of the specialty chemicals company's stock worth $3,221,000 after purchasing an additional 779 shares during the period. Finally, Moran Wealth Management LLC boosted its stake in Albemarle by 21.7% during the 1st quarter. Moran Wealth Management LLC now owns 9,334 shares of the specialty chemicals company's stock worth $672,000 after purchasing an additional 1,665 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

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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