Robert W. Baird Issues Positive Forecast for Albemarle (NYSE:ALB) Stock Price

Key Points

• Robert W. Baird raised its price target on Albemarle to $236 (implying ~17.35% upside), and several other firms have lifted targets (some to $245), though the MarketBeat consensus target remains $184.92 with an average rating of "Hold."
• Albemarle posted a strong quarter, reporting $2.95 EPS versus a $1.24 estimate and revenue of $1.43B (+32.7% y/y), despite a reported negative net margin of 5.0%.
• Institutional ownership is very high at 92.87% with several large funds adding positions, while CEO J. Kent Masters disclosed selling 11,783 shares in March.

Albemarle (NYSE:ALB - Get Free Report) had its target price upped by investment analysts at Robert W. Baird from $210.00 to $236.00 in a research note issued to investors on Thursday,MarketScreener reports. Robert W. Baird's target price indicates a potential upside of 17.35% from the stock's previous close.

A number of other equities analysts have also recently issued reports on ALB. Oppenheimer raised their price objective on shares of Albemarle from $216.00 to $222.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Royal Bank Of Canada increased their price target on Albemarle from $216.00 to $245.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Truist Financial lifted their price objective on Albemarle from $210.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Jefferies Financial Group upped their price objective on Albemarle from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. Finally, Bank of America increased their target price on Albemarle from $190.00 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $184.92.

Albemarle Stock Performance

Shares of NYSE:ALB opened at $201.11 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. Albemarle has a 1-year low of $53.70 and a 1-year high of $221.00. The stock has a market capitalization of $23.71 billion, a P/E ratio of -58.16, a P/E/G ratio of 1.38 and a beta of 1.36. The business has a 50-day moving average price of $179.56 and a two-hundred day moving average price of $154.41.

Albemarle (NYSE:ALB - Get Free Report) last issued its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $1.71. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.20%. 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 earned ($0.18) EPS. Equities analysts predict that Albemarle will post 8.72 earnings per share for the current year.

Insider Activity at Albemarle

In related news, CEO J Kent Masters sold 11,783 shares of the company's stock in a transaction on Tuesday, March 10th. The shares were 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 owned 134,628 shares in the company, valued at $22,995,808.68. This represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC bought a new position in shares of Albemarle during the 3rd quarter valued at about $138,723,000. Norges Bank bought a new stake in Albemarle during the 4th quarter worth approximately $165,271,000. Phoenix Financial Ltd. acquired a new stake in Albemarle during the 4th quarter worth approximately $130,415,000. Northwestern Mutual Wealth Management Co. lifted its stake in Albemarle by 4,338.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 738,430 shares of the specialty chemicals company's stock valued at $104,444,000 after buying an additional 721,793 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Albemarle by 22,047.4% in the second quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company's stock valued at $44,613,000 after buying an additional 710,589 shares in the last quarter. 92.87% of the stock is 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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