Albemarle Corp. [NYSE: ALB] jumped around 3.11 points on Thursday, while shares priced at $117.50 at the close of the session, up 2.72%. The company report on February 14, 2024 at 4:05 PM that Albemarle Reports Fourth Quarter and Full Year 2023 Results.
Full-Year Net Sales Increase of 31%, Driven by 21% Volume Growth.
Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the fourth quarter and full year ended December 31, 2023.
Compared to the average trading volume of 2.96M shares, ALB reached a trading volume of 6678137 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Albemarle Corp. [ALB]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALB shares is $151.97 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 1.97. 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.
Citigroup have made an estimate for Albemarle Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 09, 2024.
The Average True Range (ATR) for Albemarle Corp. is set at 5.92, with the Price to Sales ratio for ALB stock in the period of the last 12 months amounting to 1.43. The Price to Book ratio for the last quarter was 1.39, with the Price to Cash per share for the same quarter was set at 7.58.
How has ALB stock performed recently?
Albemarle Corp. [ALB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.77. With this latest performance, ALB shares dropped by -2.65% in over the last four-week period, additionally sinking by -35.27% over the last 6 months – not to mention a drop of -56.59% 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 46.85, with the RSI for the last a single of trading hit 50.08, and the three-weeks RSI is set at 45.55 for Albemarle Corp. [ALB]. The present Moving Average for the last 50 days of trading for this stock 128.42, while it was recorded at 115.99 for the last single week of trading, and 169.50 for the last 200 days.
Albemarle Corp. [ALB]: Deeper insight into the fundamentals
Albemarle Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.86 and a Current Ratio set at 1.47.
Earnings analysis for Albemarle Corp. [ALB]
With the latest financial reports released by the company, Albemarle Corp. posted 10.32/share EPS, while the average EPS was predicted by analysts to be reported at 7.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 46.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Albemarle Corp. go to -8.76%.
Insider trade positions for Albemarle Corp. [ALB]
The top three institutional holders of ALB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ALB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ALB stock with ownership which is approximately 5.8325%.
