Evercore ISI Group took its Albemarle [ALB] rating to the equivalent of In-Line from Underperform, and the price target to 160.0, in a research note dated 2021-01-05. That figure represents around a 4.81% premium from where the company’s shares closed on Monday. Other analysts also revised their coverage, with HSBC Securities’s analysts upgrading the shares from “a Hold” rating to “a Buy” rating in a research note to investors issued in late October. Meanwhile, RBC Capital Mkts had lowered its rating on ALB to “an Underperform” from the earlier “Sector perform”, in a research note produced for clients October 14, 2020. In addition, there was an upgrade from Vertical Research on September 29, 2020. The rater changed ALB from “a Hold” to “a Buy”.
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Is Albemarle Corporation [NYSE:ALB] a Good Buy Right Now?
It should be noted that ALB technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Albemarle Corporation’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 1.28 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.29 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.18 million shares.
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ALB Price Performance
On Wall Street, Albemarle Corporation [NYSE:ALB] finished Monday’s session up 3.46% at $152.63. The stock went up to $156.76 at the same session while its lowest single day price was $150.295. In the last five days, it saw a rise of about 2.00%, Albemarle Corporation shares gained by almost 3.46% since the beginning of the year. However, the share price has dropped to as low as -0.55% below its one year high. On 01/04/21, the company shares recorded $156.76, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $150.29. The company’s shares have inclined by 113.26% in the past year. The 50-day SMA achieved is $126.84 while the 200-day SMA is $90.75. Volume gained to 2.9 million from 0.78 million in the previous session.
Albemarle Corporation [ALB] Valuation Measures
Notably, Albemarle Corporation [ALB] stock cannot be classified as a good candidate in the listing of underestimated low-priced Specialty Chemicals companies to purchase soonest possible with the prevailing 12-month PE ratio of 42.63. The measure means the stock is exchanging at a premium as compared to the 23.22x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 5.07 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.38 which means ALB serve an unattractive investment opportunity compared to its competitors.
ALB Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 149.70 level, and in case of violation of this particular level, it will cause more drop to 146.76 level. On the upper level, 159.69 is still the key resistance. The stock may increase to the subsequent resistance at 156.16. The Relative Strength Index (RSI) pinned on the 14-day chart is 68.79, implying a neutral technical stance while the MACD stands at 5.68, meaning price will increase in the next trading period. Percent R indicator moved to 18.27%, implying bullish price movement. Stochastic %K at 73.36% suggest selling the stock.
What is the short interest in Albemarle Corporation?
Short interest in the Albemarle Corporation stock has surged, increasing by 2.75 million shares to total 4.42 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 7.17 million, data from Yahoo Finance shows. The decrease of -62.22% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.75% of the overall float for the stock.
Albemarle Corporation’s Biggest Shareholders: Who Owns Albemarle Corporation [ALB]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 11,774,910 shares or roughly 11.06% of the outstanding ALB shares. This means their shares have reduced by -378,350 from the 11,774,910 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, SSgA Funds Management, Inc. updated stake is worth $881,313,894. Details in the latest 13F filings reveal that Franklin Advisers, Inc. disposed off their -4.87% stake valued at $771,802,704 while BlackRock Fund Advisors added theirs at $727,974,814. During the last quarter, Franklin Advisers, Inc. liquidated -290,349 of its shares in Albemarle Corporation while BlackRock Fund Advisors bought 13,375 shares. The PRIMECAP Management Co.’s holdings currently number 5,155,880 shares at $786941964.4. According to the firm’s last 13F report, Baillie Gifford & Co. shares in the company at filing stood at 4,333,303 shares, roughly $589,199,209.
ALB Earnings Forecast For The Current Quarter
Albemarle Corporation [ALB] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $838.86M and an earnings per share of $1.06 for Dec 2020. Looking further ahead, the company is expected to report revenue of $758.39M at an EPS of $0.91 for Mar 2021. The estimates represent downside of 3.30% and 2.72% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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ALB Earnings Estimates For The Current Year
For the financial year, Albemarle Corporation [NYSE:ALB] is expected to bring in revenue of $3.07B. The returns are nearly $-520.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 3.97, lower than that of FY19 by -$2.07. Estimates put this year’s earnings growth at -34.30%, 2.80% for the next, and at an annual 15.00% over the next 5-year period. As for sales, forecasts are for a decrease of -14.40% in the current fiscal year and a further 3.30% over the following year.
