Albemarle stock saw its IBD SmartSelect Composite Rating rise to 99 Tuesday, up from 98 the day before. The stock has a 93 Relative Strength Rating.
The new rating is a sign the stock is outpacing 98% of all stocks when it comes to the most important stock-picking criteria. The best stocks tend to have a 95 or better grade as they launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch. Its Relative Strength Line is at an all time high.
Is Albemarle Stock A Buy?
Albemarle stock has been rallying on strong Q3 results as lithium demand for EV batteries remain hot. On Tuesday, the stock cleared a first-stage consolidation with a 308.24 entry. Buying stock when the stock market outlook is under pressure is risky so tread with caution and be vigilant with stop losses.
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The stock earns a 91 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 91% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
Albemarle Earnings Soar
In Q3, the lithium giant reported 614% earnings growth. That marks three straight reports with rising EPS growth. Sales growth increased 152%, up from 91% in the prior report. That marks three consecutive reports with increasing revenue gains.
Albemarle stock holds the No. 1 rank among its peers in the Chemicals-Specialty industry group. Livent and CSW Industrials are also among the group's highest-rated stocks.
