Albemarle Corporation (ALB): Here Are Some Research Recommendations

RTX Stock
RTX Stock

Albemarle Corporation (NYSE:ALB) traded with a subtraction of -$12.01 to $273.02 on Thursday, a downside of -4.21 percent. An average of 1,087,309 shares of common stock have been traded in the last five days. There was a fall of -$13.12 in the past week, and it reached a new high 18 times over the past 12 months. The last 20 days have seen an average of 1,355,262 shares traded, while the 50-day average volume stands at 1,249,203.

ALB stock has increased by 3.38% in the last month. The company shares reached their 1-month lowest point of $249.58 on 09/01/22. With the stock rallying to its 52-week high on 09/14/22, shares of the company touched a low of $169.93 and a high of $308.24 in 52 weeks. It has reached a new high 12 times so far this year and achieved 21.93% or $39.86 in price. In spite of this, the price is down -11.43% from the 52-week high.

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Insider Transactions

16 days have passed since Albemarle Corporation (ALB) last reported insider trading activity. NARWOLD KAREN G, who is EVP, Chief Admin Officer, most recently acquired $2,250 shares at $268.99 per share on Sep 06. In this transaction, the insider spent $605,228. President, Catalysts, Crawford Raphael Goszcz, disposed of 17,968 shares at a price of $230.17 on Aug 31. The insider now owns more than $4,135,624 worth of shares. Prior to that, EVP, Chief Admin Officer NARWOLD KAREN G went on to Sale 2,308 shares at $239.94 each on Jan 05. An amount of $553,782 was transacted.

Valuation Metrics

Albemarle Corporation (ALB) has a trailing price-to-earnings (P/E) ratio of 128.51. The stock’s beta is 1.51. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.69, the price-to-book (PB) ratio at 5.49.

The company has a payout ratio of 69.70%. The company’s most recent quarterly dividend payment was $0.3950 a share, without any change from last year. Its latest increase dividend $0.0050 reported on Thursday February 24 2022.

Financial Health

The quick ratio of Albemarle Corporation for the three months ended June 29 was 1.20, and the current ratio was 1.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.53 and a total debt to equity ratio of 0.57 for the quarter ending June 29. Its gross profit as reported stood at $997.97 million compared to revenue of $3.33 billion.

Earnings Surprise

For the three-month period that ended June 29, Albemarle Corporation had $3.21 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $406.77 million in the quarter, while revenues of $253.38 million were shrunk -4.38%. The analyst consensus anticipated Albemarle Corporation’s latest quarter earnings to come in at $3.26 per share, but it turned out to be $3.45, a 5.80% surprise. For the quarter, EBITDA amounted to $505.09 million. Shareholders own equity worth $117.13 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Albemarle Corporation (ALB) price momentum. RSI 9-day as of the close on 21 September was 41.46%, suggesting the stock is Neutral, with historical volatility in this time frame at 48.29%.

As of today, ALB’s price is $286.12 -4.58% or -$13.12 from its 5-day moving average. ALB is currently trading -4.95% lower than its 20-day SMA and +41.90% higher than its 100-day SMA. However, the stock’s current price level is +39.61% above the SMA50 and +10.09% above the SMA200.

The stochastic %K and %D were 52.25% and 63.65%, respectively, and the average true range (ATR) was 13.76. With the 14-day stochastic at 31.42% and the average true range at 13.10, the RSI (14) stands at 47.27%. The stock has reached -8.95 on the 9-day MACD Oscillator while the 14-day reading was at -4.83.

Analyst Ratings

KeyBanc Capital Markets upgraded Albemarle Corporation (NYSE: ALB) to a a Sector weight rating in its most recent analyst report. Previously, the stock was rated as an Underweight. The consensus rating for Albemarle Corporation (ALB) among analysts is Overweight. According to current brokerage recommendations, 2 brokerage firms advise that investors sell ALB, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 12 others rate it as a “buy”.

What is ALB’s price target for the next 12 months?

Analysts predict a range of price targets between $145.00 and $440.00, with a median target of $300.00. Taking a look at these predictions, the average price target given by analysts for Albemarle Corporation (ALB) stock is $306.99.


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