Analysts Call For Another Big Year From Albemarle Stock

ALB stock is coming off two monster years

Jan 8, 2018 at 10:03 AM
facebook X logo linkedin


Shares of chemical company Albemarle Corporation (NYSE:ALB) had a huge year in 2017, rising nearly 49%. Of course, this outperformance was nothing new for shareholders, who watched ALB stock surge 53.7% back in 2016. This year is shaping up to be no different, with the equity jumping almost 3% on the first trading day of 2018, and more analysts are starting to take notice.

Just this morning, Citigroup upped its price target to $148 from $142 and Baird raised its price target to $152 from $135, with the latter firm saying it's a buyer ahead of a number of upcoming catalysts. As a result ALB shares have added another 2% to trade at $134.34. While they're still looking up at their Nov. 8 record high of $144.99, the 120-day moving average has again stepped up as support.

If this outperformance continues, it would seem likely more bullish attention could be coming Albemarle's way. For instance, the majority of analysts tracking the stock still have just "hold" ratings in place.

Data also suggests short-term options traders have taken a bearish approach. That's according to the security's Schaeffer's put/call open interest ratio (SOIR) of 1.82, which shows put open interest among options expiring within the next three months almost doubles call open interest. Plus, this reading ranks in the 89th annual percentile, showing such a put-skew has been very rare.

What may be most surprising is the growing interest from short sellers. In the last reporting period alone, short interest jumped nearly 21%, and 6.6% of ALB's total float is dedicated to these bearish bets now. Based on average daily trading volumes, it would take shorts more than seven days to cover their positions -- pointing to ample sideline cash that could come in and push the stock higher.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI