Albemarle Corporation (ALB) Monthly Report – September 22, 2024
Company Overview
Albemarle Corporation (ALB) is a leading entity in the specialty chemicals sector, headquartered in Charlotte, North Carolina. Established in 1887, the company focuses on developing, manufacturing, and globally marketing engineered specialty chemicals. Albemarle operates through three primary segments:
1. Energy Storage: Producing vital lithium compounds for the thriving electric vehicle market.
2. Specialties: Offering a range of bromine-based chemicals and lithium specialties.
3. Ketjen: Concentrating on clean fuels technologies and petroleum refining catalysts.
With its initial public offering on July 1, 2016, Albemarle has made a significant impact in the specialty chemicals field, reporting a revenue of approximately $7.46 billion. Currently, the stock is recommended as a “hold,” with analysts setting a target high price of $171.00, indicating potential growth opportunities.
Market Performance and Sentiment
As of now, Albemarle’s stock trades at $86.03, slightly below its fifty-day moving average of $87.05, signifying a recent minor downturn. Investors should note that the stock has experienced notable volatility in the past year, with a high of $177.52 and a low of $71.97. A key metric to keep an eye on is the short interest, which stands at 11.52% of the total float, suggesting a prevailing bearish sentiment among investors anticipating a decline in stock price.
Analyst Ratings and Price Targets
The consensus among 23 analysts is to “hold” the stock, as reflected in the mean recommendation score of 2.6. Price targets set by analysts indicate a wide range of expectations, with a low of $73.00 and a mean of $108.11, which suggests a central tendency toward moderate growth in stock price. The notable target high price of $171.00 indicates optimism regarding future price appreciation, highlighting market analysts’ generally positive outlook for Albemarle’s financial trajectory.
Investors should continuously monitor these metrics to better assess market sentiment toward Albemarle Corporation and make informed decisions regarding their investments.
| Metric | Value |
|---|---|
| Market Cap | $10.1b |
| Total Debt | $3.7b |
| Total Cash | $1.8b |
| Shares Outstanding | 117.5m |
| Float Shares | 117.0m |
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