For Albemarle Corporation [ALB], Analyst sees a drop to $195. What next?

Albemarle Corporation [NYSE: ALB] price plunged by -0.28 percent to reach at -$0.49. The company report on May 3, 2023 at 4:15 PM that Albemarle Reports Net Sales Increase of 129% for First Quarter 2023.

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the first quarter ended March 31, 2023.

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First-Quarter 2023 and Recent Highlights(Unless otherwise stated, all percentage changes represent year-over-year comparisons).

A sum of 3618769 shares traded at recent session while its average daily volume was at 2.13M shares. Albemarle Corporation shares reached a high of $182.38 and dropped to a low of $172.69 until finishing in the latest session at $172.91.

The one-year ALB stock forecast points to a potential upside of 39.58. The average equity rating for ALB stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Albemarle Corporation [ALB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALB shares is $286.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALB stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Albemarle Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on April 05, 2023. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $200 to $240. The new note on the price target was released on January 31, 2023, representing the official price target for Albemarle Corporation stock. Previously, the target price had yet another raise to $310, while Piper Sandler analysts kept a Overweight rating on ALB stock.

The Average True Range (ATR) for Albemarle Corporation is set at 8.42, with the Price to Sales ratio for ALB stock in the period of the last 12 months amounting to 2.78. The Price to Book ratio for the last quarter was 2.54, with the Price to Cash per share for the same quarter was set at 12.74. Price to Free Cash Flow for ALB in the course of the last twelve months was 44.05 with Quick ratio for the last quarter at 1.10.

ALB Stock Performance Analysis:

Albemarle Corporation [ALB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.58. With this latest performance, ALB shares dropped by -20.84% in over the last four-week period, additionally sinking by -38.22% over the last 6 months – not to mention a drop of -9.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALB stock in for the last two-week period is set at 31.71, with the RSI for the last a single of trading hit 30.10, and the three-weeks RSI is set at 33.46 for Albemarle Corporation [ALB]. The present Moving Average for the last 50 days of trading for this stock 215.38, while it was recorded at 179.01 for the last single week of trading, and 251.93 for the last 200 days.

Insight into Albemarle Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Albemarle Corporation [ALB] shares currently have an operating margin of +34.17 and a Gross Margin at +42.15. Albemarle Corporation’s Net Margin is presently recorded at +36.75.

Return on Total Capital for ALB is now 25.14, given the latest momentum, and Return on Invested Capital for the company is 28.23. Return on Equity for this stock inclined to 39.53, with Return on Assets sitting at 20.35. When it comes to the capital structure of this company, Albemarle Corporation [ALB] has a Total Debt to Total Equity ratio set at 41.99. Additionally, ALB Total Debt to Total Capital is recorded at 29.57, with Total Debt to Total Assets ending up at 21.69. Long-Term Debt to Equity for the company is recorded at 41.52, with the Long-Term Debt to Total Capital now at 29.24.

Reflecting on the efficiency of the workforce at the company, Albemarle Corporation [ALB] managed to generate an average of $363,489 per employee. Receivables Turnover for the company is 6.81 with a Total Asset Turnover recorded at a value of 0.55.Albemarle Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.90.

Albemarle Corporation [ALB] Insider Position Details

There are presently around $17,313 million, or 85.80% of ALB stock, in the hands of institutional investors. The top three institutional holders of ALB stocks are: VANGUARD GROUP INC with ownership of 14,174,413, which is approximately 1.73% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 9,206,921 shares of the stock with an approximate value of $1.59 billion in ALB stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $1.32 billion in ALB stock with ownership of nearly 56.15% of the company’s market capitalization.

Positions in Albemarle Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 514 institutional holders increased their position in Albemarle Corporation [NYSE:ALB] by around 10,029,355 shares. Additionally, 443 investors decreased positions by around 7,045,674 shares, while 166 investors held positions by with 83,051,686 shares. The mentioned changes placed institutional holdings at 100,126,715 shares, according to the latest SEC report filing. ALB stock had 162 new institutional investments in for a total of 2,729,165 shares, while 96 institutional investors sold positions of 1,129,579 shares during the same period.


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