It’s still a bull thesis, just subverted: Albemarle Corporation (ALB)

Albemarle Corporation [ALB] stock prices are up 4.89% to $260.64 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ALB shares have gain 7.60% over the last week, with a monthly amount glided 11.62%, and seem to be holding up well over a long-time horizon.

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On 23, January 2023, Albemarle to Host 2023 Strategic Update Including New 5-Year Outlook and Preliminary 2022 Results. In a post published today on Yahoo Finance, Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, will host its virtual 2023 Strategy Update tomorrow, Jan. 24, 2023, at 9:00 a.m. ET.  The event is expected to conclude at approximately 10:45 a.m. ET.

From an analyst’s perspective:

Albemarle Corporation [NYSE: ALB] stock has seen the most recent analyst activity on January 04, 2023, when Vertical Research upgraded its rating to a Buy but kept the price target unchanged to $275 for it. Previously, Berenberg downgraded its rating to Hold on October 13, 2022, and elevated its price target to $270. On July 20, 2022, upgrade upgraded it’s rating to Sector Weight. Credit Suisse started tracking the stock assigning a Underperform rating and suggested a price target of $185 on June 27, 2022. UBS downgraded its rating to a Neutral and reduced its price target to $260 on June 02, 2022. Wells Fargo upgraded its rating to Overweight for this stock on May 12, 2022, and upped its price target to $285. In a note dated February 01, 2022, BofA Securities upgraded an Neutral rating on this stock.

The stock price of Albemarle Corporation [ALB] has been fluctuating between $169.93 and $334.55 over the past year. Currently, Wall Street analysts expect the stock to reach $304.18 within the next 12 months. Albemarle Corporation [NYSE: ALB] shares were valued at $260.64 at the most recent close of the market. An investor can expect a potential return of 16.71% based on the average ALB price forecast.

Analyzing the ALB fundamentals

The most recent quarter, Albemarle Corporation [NYSE:ALB] reported sales of 2.09 billion, representing a surge of 151.80%. Gross Margin for this corporation currently stands at +30.30% with Operating Margin at +16.01%, Pretax Margin comes in at +4.02%, and Net Margin reading is +3.72%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 252.66 points at the first support level, and at 244.69 for the second support level. However, for the 1st resistance point, the stock is sitting at 264.86, and for the 2nd resistance point, it is at 269.08.

Albemarle Corporation [ALB] reported earnings per share of $3.45 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $3.26/share, meaning a difference of $0.19 and a surprise factor of 5.80%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were $2.38 per share as compared to estimates of $1.63 per share, a difference of $0.75 representing a surprise of 46.00%.

Ratios To Look Out For

It’s worth pointing out that Albemarle Corporation [NYSE:ALB]’s Current Ratio is 1.70. Further, the Quick Ratio stands at 0.64, while the Cash Ratio is 0.23. Considering the valuation of this stock, the price to sales ratio is 8.19, the price to book ratio is 4.86 and the P/E (TTM) ratio is 19.76.

Transactions by insiders

Insider trading, which has resulted in 15 insider purchases of 31,554 shares and 19 insider sales of 25,199 shares in the past three months, is now the topic of our analysis. Recent insider trading involved Tozier Scott, EVP & CFO, that happened on Jan 06 when 1719.0 shares were sold. EVP, Chief Admin Officer, NARWOLD KAREN G completed a deal on Dec 01 to sell 2250.0 shares. Meanwhile, EVP, Chief Admin Officer NARWOLD KAREN G sold 9072.0 shares on Nov 11.