Wall Street Zen Upgrades Albemarle (NYSE:ALB) to Strong-Buy

Key Points

• Wall Street Zen upgraded Albemarle from “buy” to “strong-buy,” adding to a generally positive analyst backdrop for the specialty chemicals company.
• Other analysts remain mixed but largely constructive: Albemarle’s consensus rating is still Moderate Buy, with a consensus price target of $199.58.
• The company recently posted better-than-expected earnings, with Q1 EPS of $2.95 versus estimates of $1.24 and revenue up 32.7% year over year.

Albemarle (NYSE:ALB - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday.

A number of other research firms have also recently commented on ALB. Rothschild & Co Redburn decreased their price target on Albemarle from $188.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. Morgan Stanley raised their target price on Albemarle from $170.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. HSBC lifted their target price on Albemarle from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Truist Financial upped their price objective on shares of Albemarle from $245.00 to $260.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, Wells Fargo & Company upped their price target on shares of Albemarle from $165.00 to $200.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.58.

Albemarle Trading Up 0.0%

Shares of ALB stock opened at $126.06 on Monday. The firm has a fifty day moving average price of $163.81 and a 200-day moving average price of $169.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.21. Albemarle has a 1 year low of $64.95 and a 1 year high of $221.00. The company has a market cap of $14.87 billion, a price-to-earnings ratio of -36.97 and a beta of 1.34.

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, topping the consensus estimate of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted ($0.18) earnings per share. The business's revenue was up 32.7% compared to the same quarter last year. As a group, equities analysts predict that Albemarle will post 13.06 earnings per share for the current year.

Insider Activity at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.42% of the company's stock.

Institutional Trading of Albemarle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MH & Associates Securities Management Corp ADV bought a new stake in shares of Albemarle in the 4th quarter worth $26,000. Elyxium Wealth LLC bought a new stake in shares of Albemarle in the 4th quarter worth approximately $34,000. Torren Management LLC acquired a new stake in Albemarle during the fourth quarter valued at approximately $38,000. Sound Income Strategies LLC boosted its holdings in Albemarle by 190.1% during the first quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company's stock worth $52,000 after buying an additional 192 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in Albemarle by 121.5% during the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company's stock worth $42,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

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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