HSBC Raises Albemarle (NYSE:ALB) Price Target to $220.00

Key Points

• HSBC raised its price target on Albemarle to $220 from $200, maintaining a "buy" rating and implying about a 15.29% upside from the prior close.
• Analysts are divided: 13 Buy, 13 Hold and 2 Sell ratings leave a consensus rating of "Hold" with a consensus target of $178.28, well below HSBC's outlook.
• Recent quarter: Albemarle missed EPS expectations (reported -$0.53 vs. -$0.40 est.) while beating revenue ($1.43B vs. $1.34B), and posted a negative net margin of -10.74%.

Albemarle (NYSE:ALB - Get Free Report) had its target price boosted by analysts at HSBC from $200.00 to $220.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm currently has a "buy" rating on the specialty chemicals company's stock. HSBC's price objective points to a potential upside of 15.29% from the company's previous close.

Several other research firms have also commented on ALB. Deutsche Bank Aktiengesellschaft raised their target price on shares of Albemarle from $185.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Weiss Ratings restated a "sell (d+)" rating on shares of Albemarle in a research report on Monday, December 29th. Oppenheimer increased their target price on Albemarle from $216.00 to $222.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Robert W. Baird restated a "neutral" rating and set a $210.00 price target on shares of Albemarle in a report on Friday, April 17th. Finally, Scotiabank raised Albemarle from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $85.00 to $200.00 in a research note on Monday, January 12th. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $178.28.

Albemarle Stock Performance

NYSE ALB opened at $190.83 on Monday. Albemarle has a 52-week low of $53.70 and a 52-week high of $215.71. The stock has a market cap of $22.50 billion, a PE ratio of -32.71, a P/E/G ratio of 1.42 and a beta of 1.43. The firm has a 50-day moving average of $176.48 and a 200-day moving average of $149.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.13). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.09) EPS. On average, sell-side analysts anticipate that Albemarle will post 8.28 EPS for the current year.

Insiders Place Their Bets

In related news, CEO J Kent Masters sold 11,783 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total value of $2,012,654.23. Following the completion of the sale, the chief executive officer directly owned 134,628 shares of the company's stock, valued at $22,995,808.68. The trade was a 8.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.42% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Strategic Advocates LLC bought a new stake in Albemarle during the 3rd quarter worth approximately $25,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of Albemarle in the 4th quarter worth $26,000. BOKF NA lifted its position in shares of Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company's stock valued at $33,000 after purchasing an additional 404 shares in the last quarter. Cromwell Holdings LLC boosted its holdings in Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 111 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new stake in Albemarle in the 4th quarter worth about $34,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

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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