Albemarle (ALB) Receives New Coverage from Analysts at HSBC

HSBC began coverage on shares of Albemarle (NYSE:ALB) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm set a “hold” rating and a $112.50 price target on the specialty chemicals company’s stock. HSBC’s target price points to a potential upside of 14.00% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Loop Capital set a $130.00 price objective on shares of Albemarle and gave the company a “buy” rating in a research report on Friday, October 19th. ValuEngine lowered shares of Albemarle from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. Vertical Research assumed coverage on shares of Albemarle in a research report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price objective for the company. Vertical Group started coverage on shares of Albemarle in a research report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price objective for the company. Finally, Berenberg Bank set a $130.00 target price on shares of Albemarle and gave the company a “buy” rating in a research note on Friday, November 9th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $121.52.

Shares of ALB stock traded up $2.36 during trading hours on Monday, reaching $98.68. The stock had a trading volume of 566,360 shares, compared to its average volume of 1,161,584. The company has a current ratio of 1.83, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. Albemarle has a 12 month low of $86.75 and a 12 month high of $138.67. The firm has a market capitalization of $10.23 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.09 and a beta of 1.52.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 7th. The specialty chemicals company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The company had revenue of $778.00 million during the quarter, compared to analyst estimates of $796.79 million. During the same period last year, the business earned $1.08 earnings per share. Albemarle’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Albemarle will post 5.43 EPS for the current year.

In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $96.54, for a total value of $299,274.00. Following the completion of the transaction, the executive vice president now owns 27,142 shares of the company’s stock, valued at approximately $2,620,288.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of ALB. Credit Agricole S A purchased a new stake in shares of Albemarle during the 2nd quarter valued at about $123,000. SeaCrest Wealth Management LLC increased its position in shares of Albemarle by 145.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock valued at $160,000 after purchasing an additional 1,004 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Albemarle by 17,210.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,731 shares of the specialty chemicals company’s stock valued at $171,000 after purchasing an additional 1,721 shares during the last quarter. Evercore Wealth Management LLC purchased a new stake in shares of Albemarle during the 3rd quarter valued at about $202,000. Finally, Palladium Partners LLC purchased a new stake in shares of Albemarle during the 3rd quarter valued at about $205,000. 92.73% of the stock is owned by institutional investors and hedge funds.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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