Mizuho Forecasts Strong Price Appreciation for Albemarle (NYSE:ALB) Stock

Key Points

• Mizuho raised its price target on Albemarle to $205 (from $185) while keeping a "neutral" rating, implying roughly a 5.8% upside; analysts remain split and the consensus rating is "Hold" with an average target of $183.83.
• Albemarle beat the quarter's estimates with $2.95 EPS (vs. $1.24 expected) and $1.43B in revenue (up 32.7% YoY), although the company still reported a negative net margin of -10.74%.

Albemarle (NYSE:ALB - Get Free Report) had its price target increased by Mizuho from $185.00 to $205.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. Mizuho's price objective would indicate a potential upside of 5.81% from the stock's previous close.

Several other equities analysts have also commented on the company. UBS Group raised their price objective on Albemarle from $220.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Robert W. Baird reissued a "neutral" rating and set a $210.00 price objective on shares of Albemarle in a research report on Friday, April 17th. JPMorgan Chase & Co. lowered their price objective on Albemarle from $195.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Albemarle from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Finally, Wells Fargo & Company set a $165.00 price target on Albemarle in a report on Monday, February 16th. Thirteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $183.83.

Albemarle Stock Performance

Shares of Albemarle stock opened at $193.74 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $22.84 billion, a P/E ratio of -33.69, a P/E/G ratio of 1.40 and a beta of 1.36. The business has a fifty day simple moving average of $179.34 and a two-hundred day simple moving average of $153.66. Albemarle has a 12 month low of $53.70 and a 12 month high of $215.71.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating the consensus estimate of $1.24 by $1.71. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The company's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, equities analysts forecast that Albemarle will post 8.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO J Kent Masters sold 11,783 shares of Albemarle 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 in the company, valued at approximately $22,995,808.68. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company's stock.

Institutional Investors Weigh In On Albemarle

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

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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