The stock of Albemarle Corp. (NYSE:ALB) last traded at $118.30, up 4.45% from the previous session.
Data from the available sources indicates that Albemarle Corp. (NYSE:ALB) is covered by 29 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $308.00 and a low of $90.00, we find $177.50. Given the previous closing price of $113.26, this indicates a potential upside of 56.72 percent. ALB stock price is now -14.67% away from the 50-day moving average and -38.15% away from the 200-day moving average. The market capitalization of the company currently stands at $13.88B.
In total, 5 analysts have assigned it a hold rating, and 20 have given it a buy rating. Brokers who have rated the stock have averaged $184.04 as their price target over the next twelve months.
With the price target reduced from $140 to $128, Piper Sandler Downgraded its rating from Neutral to Underweight for Albemarle Corp. (NYSE: ALB).
In other news, Coleman Kristin M., EVP, General Counsel bought 1,373 shares of the company’s stock on Nov 07. The stock was bought for $167,314 at an average price of $121.86. Upon completion of the transaction, the EVP, General Counsel now directly owns 2,746 shares in the company, valued at $0.32 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10, President, Energy Storage Norris Eric bought 1,260 shares of the business’s stock. A total of $246,317 was incurred on buying the stock at an average price of $195.49. This leaves the insider owning 26,596 shares of the company worth $3.15 million. Insiders disposed of 75,595 shares of company stock worth roughly $8.94 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
With an opening price of $117.50 on Wednesday morning, Albemarle Corp. (NYSE: ALB) set off the trading day. During the past 12 months, Albemarle Corp. has had a low of $112.00 and a high of $293.01. As of last week, the company has a debt-to-equity ratio of 0.38, a current ratio of 1.81, and a quick ratio of 0.94. The fifty day moving average price for ALB is $138.63 and a two-hundred day moving average price translates $191.28 for the stock.
The latest earnings results from Albemarle Corp. (NYSE: ALB) was released for Sep, 2023. According to the Specialty Chemicals Company, earnings per share came in at $2.74, missing analysts’ expectations of $3.99 by -1.25. This compares to $7.90 EPS in the same period last year. The net profit margin was 33.63% and return on equity was 39.97% for ALB. The company reported revenue of $2.31 billion for the quarter, compared to $2.09 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.46 percent. For the current quarter, analysts expect ALB to generate $2.3B in revenue.
