Albemarle (NYSE:ALB) Upgraded at Barclays

Albemarle (NYSE:ALB) was upgraded by equities researchers at Barclays to a “hold” rating in a research report issued on Monday, Zacks reports.

ALB has been the topic of a number of other reports. Wall Street Zen raised Albemarle from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Morgan Stanley reiterated a “reduce” rating and issued a $161.00 price objective on shares of Albemarle in a research note on Monday, August 10th. Argus dropped their target price on Albemarle from $230.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. BMO Capital Markets restated an “outperform” rating and set a $175.00 target price on shares of Albemarle in a research report on Tuesday, October 6th. Finally, Robert W. Baird cut their target price on Albemarle from $236.00 to $224.00 and set a “neutral” rating for the company in a research report on Thursday, June 18th. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.96.

Albemarle Trading Up 0.3%

Shares of ALB stock opened at $97.91 on Monday. The firm has a fifty day moving average of $120.61 and a 200-day moving average of $146.64. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 362.65, a P/E/G ratio of 0.58 and a beta of 1.36. Albemarle has a 52-week low of $88.01 and a 52-week high of $221.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.55. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.61 billion. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm’s revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. On average, equities research analysts forecast that Albemarle will post 11.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALB. Addison Advisors LLC acquired a new position in shares of Albemarle in the 2nd quarter valued at $28,000. Sound Income Strategies LLC raised its stake 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 buying an additional 192 shares during the period. Dakota Community Bank & Trust NA acquired a new stake in Albemarle during the 1st quarter worth $54,000. Fiduciary Financial Advisors acquired a new stake in Albemarle during the 2nd quarter worth $41,000. Finally, Jones Financial Companies Lllp bought a new position in Albemarle during the second quarter worth about $42,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Key Albemarle News

Here are the key news stories impacting Albemarle this week:

• Positive Sentiment: Mizuho upgraded Albemarle from Neutral to Outperform and set a $130 price target, implying substantial upside from recent trading levels. The upgrade reflects improving confidence in a recovery for the lithium market and helped the stock attempt to end its recent losing streak. Lithium Stock Looks to End Losing Streak After Upgrade
• Positive Sentiment: Options activity was unusually bullish. Traders purchased 14,722 Albemarle call options, approximately 97% above the typical daily volume of 7,492 contracts. While options activity does not guarantee a price increase, the surge indicates increased speculative interest and potentially more optimistic positioning.
• Neutral Sentiment: Barclays initiated coverage with an Equal Weight rating. The neutral stance provides a new institutional assessment but does not offer a strong catalyst for either buyers or sellers. Barclays Initiates Coverage of Albemarle With Equal Weight Rating
• Negative Sentiment: Zacks maintained a highly bearish view, assigning Albemarle a Rank #5, or Strong Sell. The rating reflects downward earnings revisions and lithium prices that have fallen roughly 80% since late 2022, underscoring continued pressure on profitability and future results. Bear of the Day: Albemarle Corporation

Albemarle Company Profile

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company that develops, manufactures and markets materials used in energy storage, transportation, consumer products and industrial applications. The company is best known for its lithium business, which supplies lithium compounds used in rechargeable batteries for electric vehicles, portable electronics and energy-storage systems.

Albemarle also produces bromine-based specialty chemicals used in areas such as fire safety, water treatment, pharmaceutical manufacturing and other industrial processes.