Report On Albemarle Corporation’s (ALB) Price Performance

The stock of Albemarle Corporation (NYSE:ALB) increased by $6.58 on Tuesday to at $196.22, up 3.47 percent. The last five days have seen an average of 1,189,611 shares of common stock traded. 15 times new highs were reached in the current year, with a fall of -$21.44. The average number of shares traded over the last 20 days was 1,812,063, while the average volume over the last 50 days totaled 1,787,475.

ALB stock dropped -7.57% since last month. On 08/15/23, the company’s shares reached a one-month low of $179.28. The stock touched a high of $334.55 on 02/16/23, after rallying from a low of $171.82 in 52 weeks. The price of ALB stock has declined by -9.52% or -$21.44 this year, reaching a new high 15 times. Still, the stock price is down -41.35% from the 52-week high.

Insider Transactions

ALB stock investors should be aware that Albemarle Corporation (ALB) stock had its last reported insider trading activity 111 days ago on May 10. On May 10, President, Energy Storage Norris Eric acquired 1,260 shares at $195.49 each. This transaction resulted in the insider spending $246,317. On May 05, Masters J Kent added 5,470 shares at a price of US$181.64. After the transaction, the insider now owns 51,466 shares. EVP, General Counsel Coleman Kristin M. had earlier bought 1,373 shares on May 05 for $182.00 a share. The transaction was completed for $249,886.

Valuation Metrics

Albemarle Corporation (ALB) has a trailing price-to-earnings (P/E) ratio of 5.90. Beta for the stock is 1.57. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.40, the price-to-book (PB) ratio of 2.35, and the price-to-cash flow ratio of 24.02.

Company paid $0.40 per share in dividends, remained unchanged from $0.40 last year.

Financial Health

For the three months ended June 29, Albemarle Corporation’s quick ratio was 0.90, while its current ratio was 1.70, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.36, and the total debt to equity ratio is 0.36. As far as profitability goes, gross margin for the trailing twelve months is 40.20% percent. Albemarle Corporation’s EBITDA margin for the year ended June 29 was 38.28%, whereas its operating margin stood at 30.70% for the same period. Based on annual data, it had gross profit of $3.07 billion and revenue of $7.32 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ALB’s return on assets (ROA) during the last 12 months has been 23.80%. There was a 18.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 46.40%.

Earnings Surprise

According to Albemarle Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.37 billion, while revenues rose by 37.58% to $2.58 billion. It was predicted that Albemarle Corporation’s quarterly earnings would be $7.33, but it ended up being $4.44, beating the consensus by 65.10%. EBITDA was $233.08 million for the quarter. At the end of Albemarle Corporation’s most recent quarter ended June 29, its liabilities totaled 9.02 billion, while its total debt was $3.66 billion. Equity owned by shareholders amounts to $117.35 million.

Technical Picture

Here’s a quick look at Albemarle Corporation’s (ALB) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 57.31%, suggesting the stock is Neutral, with a 18.69% historical volatility rate.

The stochastic %K and %D were 70.53% and 59.81% respectively, while the average true range (ATR) was 5.38. Based on the 14-day stochastic reading of 97.58%, the RSI (14) reading is 47.84%. On the 9-day MACD Oscillator, the stock is at 2.75, and the 14-day reading is at 3.75.

Analyst Ratings

In its analyst report released on June 14, 2023, Citigroup began covering Albemarle Corporation (NYSE: ALB). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Albemarle Corporation (ALB) an Overweight rating. ALB is a stock that is recommended for selling by 2 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 3 rates it overweight and 19 others recommend it as a buy.

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

The current consensus forecast for the stock is between $155.00 and $344.00, with a median target price of $265.00. In analyzing these forecasts, the average price target given by analysts for Albemarle Corporation (ALB) is $262.43.

energy storage