Albemarle Corporation (NYSE:ALB) does about 1.46M shares in volume on a normal day but saw 1969002 shares change hands in Monday trading. The company now has a market cap of 29.38B USD. Its current market price is $260.64, marking an increase of 4.89% compared to the previous close of $248.49. The 52 week high reached by this stock is $334.55 whilst the lowest price level in 52 weeks is $169.93. The script in recent trading has seen the stock touch a high of $261.0999 and a low of $248.905.
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Albemarle Corporation (ALB) has a 20-day trading average at $229.94 and the current price is -22.09% off the 52-week high compared with 53.38% distance from its 52-week low. The 50-day simple moving average of the closing price is $254.74 and its 200-day simple moving average is $247.57. If we look at the stock’s price movements over the week, volatility stands at 3.42%, which increases to 3.63% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 64.65 to suggest the stock is neutral.
28 analysts observing the Albemarle Corporation (ALB) stock have set the 12-month price targets for the company’s shares at between $155.00 and $461.00. The consensus objective for the share price is $300.57, suggesting that the stock has a potential upside of 13.28% over the period. The median price target is 13.12% away from the current levels at $300.00.
FactSet Research has provided data showing that 28 brokerages have issued ratings for the stock. 2 analysts have rated it as a sell, while 3 advise that it is a overweight. 14 analysts have rated it as a buy and 9 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 04, 2023 when Vertical Research upgraded the stock to “Buy” and issued a price target of $275. Berenberg downgraded the stock to “Hold” from Buy on October 13, 2022 at a price target of $260-$270.
The current price level is 14.05%, 1.95%, and 5.37% away from its SMA20, SMA50, and SMA200 respectively, with the ALB price moving above the 50-day SMA on January 23. Albemarle Corporation (ALB) stock is up 7.60% over the week and 11.62% over the past month. Its price is 20.19% year-to-date and 20.03% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of $3.45 above consensus estimates by $0.19. The company’s next earnings report is expected on 05/03/2023, with forecasts estimating quarterly EPS at $6.99 and $21.31 for whole year. ALB’s earnings per share are forecast to grow by 427.50% this year and 27.20% over next year. Expected sales for next quarter are $2.62 billion, which analysts say will come at $7.51 billion for the current fiscal year and next year at $9.43 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.25 billion.
To reach the target analysts have set, the stock logically needs to grow 13.28 percent from here.
Outstanding shares total 117.14M with insiders holding 0.17% of the shares and institutional holders owning 85.28% of the company’s common stock. The company has a return on investment of 9.50% and return on equity of 25.60%. The price to earnings ratio (P/E ratio) amounts to 19.76 while the forward price to earnings ratio is 9.28. The beta has a value of 1.53. Price to book ratio is 4.53 and price to sales ratio is 5.25.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in Albemarle Corporation (ALB) to 3,563,120 shares, mirroring a recent increase by 0.89%. Vanguard Total Stock Market Index added 31590.0 shares of Albemarle Corporation common stock bringing its total worth to about $772.7 million at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by Vanguard Mid Cap Index Fund, which sold off 14303.0 shares to end up with 2,727,514 shares worth $591.49 million. Vanguard 500 Index Fund raise their holdings by 0.91% in the company over the course of the most recent quarter. It now holds a 2.31% position in Albemarle Corporation thanks to 2.71 million shares amounting to $587.26 million.
