The price of Albemarle Corp. (NYSE:ALB) shares last traded on Wall Street rose 2.08% to $130.31.
ALB stock price is now 6.72% away from the 50-day moving average and -15.50% away from the 200-day moving average. The market capitalization of the company currently stands at $15.31B.
With the price target enhanced from $130 to $160, Berenberg Upgraded its rating from Hold to Buy for Albemarle Corp. (NYSE: ALB). On April 10, 2024, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $137 to quote $156, while ‘Vertical Research’ rates the stock as ‘Hold’
In other news, Coleman Kristin M., EVP, General Counsel bought 1,373 shares of the company’s stock on Nov 07 ’23. 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 $0.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10 ’23, 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 $3.47 million. A total of 0.42% of the company’s stock is owned by insiders.
During the past 12 months, Albemarle Corp. has had a low of $106.69 and a high of $247.44. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.47, and a quick ratio of 0.86. The fifty day moving average price for ALB is $122.31 and a two-hundred day moving average price translates $153.73 for the stock.
The latest earnings results from Albemarle Corp. (NYSE: ALB) was released for Dec, 2023. According to the Specialty Chemicals Company, earnings per share came in at $1.85, beating analysts’ expectations of $1.01 by 0.84. This compares to $9.86 EPS in the same period last year. The net profit margin was 16.36% and return on equity was 18.09% for ALB. The company reported revenue of $2.36 billion for the quarter, compared to $2.62 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -10.1 percent. For the current quarter, analysts expect ALB to generate $1.28B in revenue.
