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

Key Points

• Morgan Stanley raised its price target on Albemarle to $189 from $170 while keeping an "equal weight" rating, a target that implies roughly a 2.24% downside from the current share price.
• Analysts are split — 13 Buy, 13 Hold and 2 Sell — giving an overall average rating of Hold and an average price target of $178.28, below the stock's recent trading level.
• Shares opened near $193.33; Albemarle recently missed quarterly EPS (‑$0.53 vs. est. ‑$0.40) but beat revenue, and CEO J. Kent Masters sold 11,783 shares (reducing his stake by ~8%), with insiders owning about 0.42% of the company.

Albemarle (NYSE:ALB - Get Free Report) had its price objective raised by stock analysts at Morgan Stanley from $170.00 to $189.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has an "equal weight" rating on the specialty chemicals company's stock. Morgan Stanley's price objective indicates a potential downside of 2.24% from the stock's current price.

Other equities research analysts also recently issued reports about the company. UBS Group lifted their price objective on Albemarle from $220.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Evercore raised their target price on Albemarle from $100.00 to $180.00 in a research report on Wednesday, February 18th. Robert W. Baird reiterated a "neutral" rating and set a $210.00 price objective on shares of Albemarle in a research note on Friday, April 17th. Berenberg Bank set a $153.00 target price on shares of Albemarle in a research note on Monday, February 23rd. Finally, Oppenheimer raised their price target on Albemarle from $216.00 to $222.00 and gave the company an "outperform" rating in a report on Monday, April 13th. Thirteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $178.28.

Albemarle Stock Down 3.1%

Shares of Albemarle stock opened at $193.33 on Tuesday. Albemarle has a 12-month low of $53.70 and a 12-month high of $215.71. The stock has a market capitalization of $22.79 billion, a P/E ratio of -32.96, a PEG ratio of 1.42 and a beta of 1.43. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $177.14 and a two-hundred day moving average price of $150.23.

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 (EPS) 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%.Albemarle's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted ($1.09) earnings per share. Equities analysts expect that Albemarle will post 8.28 earnings per share for the current year.

Insider Buying and Selling at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 134,628 shares in the company, valued at $22,995,808.68. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Albemarle

A number of hedge funds have recently bought and sold shares of ALB. MH & Associates Securities Management Corp ADV bought a new position in shares of Albemarle in the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in shares of Albemarle in the 4th quarter valued at approximately $34,000. Torren Management LLC bought a new stake in shares of Albemarle during the 4th quarter valued at approximately $38,000. Sound Income Strategies LLC increased its position in Albemarle by 190.1% during the 1st quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company's stock worth $52,000 after purchasing an additional 192 shares in the last quarter. Finally, Root Financial Partners LLC boosted its position in Albemarle by 121.5% in the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company's stock valued at $42,000 after buying an additional 164 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Albemarle Company Profile

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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