Albemarle Corporation (ALB)
90.54 USD -7.01 (-7.19%) Volume: 2.53M
Albemarle Corporation’s stock price currently sits at 90.54 USD, experiencing a significant drop of 7.19% this trading session, with a substantial trading volume of 2.53M. The company’s year-to-date performance reveals a steep decline of 37.33%, reflecting a challenging year for ALB.
Latest developments on Albemarle Corporation
Albemarle Corporation (ALB) has been making headlines recently as its stock price movements have caught the attention of investors. Despite holding a Neutral rating, there is cautious optimism surrounding future catalysts for the company. On Tuesday, Albemarle’s stock underperformed compared to its competitors, but this was quickly overshadowed by news that its price target was raised to $103.00 by Robert W. Baird. With one Wall Street analyst predicting a 25% upside for Albemarle’s stock, it’s no surprise that M&T Bank Corp and Toronto Dominion Bank have been making moves with their stock positions. As the company’s target is raised to $130, all eyes are on Albemarle Corp as it continues to navigate the market.
Albemarle Corporation on Smartkarma
Analysts at Baptista Research on Smartkarma have provided bullish coverage on Albemarle Corp, highlighting the company’s strong execution in Q3 2024. The research report focuses on Albemarle’s volume growth in its Energy Storage division and year-over-year EBITDA growth in its Specialties and Ketjen segments. The report also notes the company’s robust liquidity and leverage metrics, with Albemarle maintaining leverage well below covenant limits. Baptista Research aims to evaluate various factors that could impact the company’s stock price in the near future and conducts an independent valuation using a Discounted Cash Flow (DCF) methodology.
In another report by Baptista Research on Smartkarma, analysts delve into the factors driving their ‘Buy’ rating on Albemarle Corp. The research covers the company’s Q2 2024 earnings, which revealed a mix of operational successes and challenges in line with the broader industry landscape. Despite reporting a decrease in net sales to $1.4 billion from $2.4 billion the previous year, primarily due to pricing declines, Albemarle faced a loss of $188 million in the quarter. This marked a significant downturn from profitability, with a diluted loss per share of $1.96. The report sheds light on the financial forecasts driving Baptista Research‘s positive outlook on Albemarle Corp.
A look at Albemarle Corporation Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 4 | |
Dividend | 3 | |
Growth | 2 | |
Resilience | 4 | |
Momentum | 4 | |
OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Albemarle Corp seems to have a positive long-term outlook. The company scores high in value, resilience, and momentum, indicating that it is well-positioned in terms of its financial health, ability to weather economic downturns, and overall market performance. However, its growth and dividend scores are lower, suggesting that there may be some challenges in these areas that the company needs to address to sustain long-term growth and shareholder returns.
Albemarle Corporation, a producer of specialty and fine chemicals, primarily operates in the United States. With strong scores in value, resilience, and momentum, the company appears to be on a solid footing for the future. While its growth and dividend scores are not as high, Albemarle’s focus on additives and intermediates for a variety of industries positions it well for continued success in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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