Albemarle (NYSE:ALB) Given New $195.00 Price Target at JPMorgan Chase & Co.

Albemarle (NYSE:ALB) had its target price increased by analysts at JPMorgan Chase & Co. from $80.00 to $195.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.31% from the stock’s previous close.

Other research analysts have also issued research reports about the company. TD Cowen reaffirmed a “hold” rating on shares of Albemarle in a report on Thursday, October 9th. Hsbc Global Res upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of Albemarle in a research report on Monday, December 29th. Zacks Research raised Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, UBS Group upped their price target on shares of Albemarle from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $161.16.

Albemarle Stock Performance

Shares of NYSE:ALB traded down $9.02 during mid-day trading on Wednesday, reaching $185.16. The company had a trading volume of 2,327,535 shares, compared to its average volume of 3,529,267. Albemarle has a one year low of $49.43 and a one year high of $195.68. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $146.52 and its 200-day moving average price is $107.17. The firm has a market cap of $21.79 billion, a price-to-earnings ratio of -116.30, a PEG ratio of 4.14 and a beta of 1.41.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.73. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm earned ($1.55) EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Trading of Albemarle

Large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its stake in shares of Albemarle by 10,050.0% during the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 402 shares during the period. Strategic Advocates LLC purchased a new position in shares of Albemarle during the 3rd quarter valued at approximately $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle in the 4th quarter valued at $26,000. CVA Family Office LLC grew its position in shares of Albemarle by 7,257.1% in the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 508 shares during the period. Finally, BOKF NA lifted its stake in Albemarle by 5,771.4% in the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 404 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

About Albemarle

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.