Truist Financial Issues Pessimistic Forecast for Albemarle (NYSE:ALB) Stock Price

Key Points

• Truist Financial cut Albemarle’s price target from $245 to $225 but maintained a “buy” rating, implying roughly 79.6% upside from the stock’s previous close.
• Analyst sentiment remains broadly positive, with 15 buy ratings, 10 holds and one sell; the consensus rating is “Moderate Buy” with an average price target of $198.35.
• Albemarle exceeded quarterly expectations, reporting $3.75 in earnings per share versus a $3.20 consensus estimate and $1.74 billion in revenue, up 31.1% year over year. Shares opened at $125.27, well below their 52-week high of $221.

Albemarle (NYSE:ALB - Get Free Report) had its price target dropped by equities research analysts at Truist Financial from $245.00 to $225.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the specialty chemicals company's stock. Truist Financial's target price suggests a potential upside of 79.61% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. Berenberg Bank increased their price target on Albemarle from $153.00 to $192.00 and gave the company a "hold" rating in a research report on Tuesday, June 2nd. Morgan Stanley boosted their price objective on Albemarle from $170.00 to $189.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Scotiabank reissued an "outperform" rating on shares of Albemarle in a research report on Tuesday, July 28th. Vertical Research raised shares of Albemarle from a "hold" rating to a "buy" rating and set a $224.00 target price on the stock in a research note on Tuesday, May 26th. Finally, HSBC lifted their price target on Albemarle from $200.00 to $220.00 and gave the company a "buy" rating in a report on Monday, April 27th. Fifteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $198.35.

Albemarle Price Performance

Shares of ALB opened at $125.27 on Friday. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 463.99 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. Albemarle has a one year low of $69.81 and a one year high of $221.00. The stock's fifty day moving average is $138.51 and its 200-day moving average is $164.30.

Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.20 by $0.55. The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.61 billion. Albemarle had a return on equity of 11.13% and a net margin of 3.09%.The firm's quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 earnings per share. Equities analysts anticipate that Albemarle will post 12.79 EPS for the current year.

Insider Activity

In related news, CEO J Kent Masters sold 16,393 shares of Albemarle stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the sale, the chief executive officer directly owned 87,519 shares of the company's stock, valued at $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.42% of the company's stock.

Institutional Investors Weigh In On Albemarle

Several large investors have recently modified their holdings of ALB. BOKF NA raised its stake in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company's stock worth $33,000 after acquiring an additional 404 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Albemarle during the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC raised its position in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock valued at $36,000 after purchasing an additional 483 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Albemarle in the fourth quarter valued at $38,000. Finally, Root Financial Partners LLC grew its holdings in Albemarle by 121.5% during the 4th quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company's stock worth $42,000 after acquiring an additional 164 shares during the last quarter. 92.87% of the stock is currently 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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