Albemarle Corp. Upgraded to “Buy” by Robert W. Baird (ALB)
Albemarle Corp. (NYSE:ALB) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, AR Network reports. The firm currently has a $71.00 price target on the stock, up from their previous price target of $57.00. Robert W. Baird’s price target would indicate a potential upside of 9.45% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. upgraded shares of Albemarle Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. They now have a $71.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Albemarle Corp. in a research note to investors on Tuesday, October 22nd. They now have a $78.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Albemarle Corp. from $65.00 to $72.00 in a research note to investors on Friday, October 18th. They now have a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $80.09.
Albemarle Corp. (NYSE:ALB) traded up 0.63% during mid-day trading on Thursday, hitting $65.28. The stock had a trading volume of 608,758 shares. Albemarle Corp. has a 1-year low of $56.64 and a 1-year high of $70.00. The stock has a 50-day moving average of $66.28 and a 200-day moving average of $64.54. The company has a market cap of $5.314 billion and a price-to-earnings ratio of 18.93.
Albemarle Corp. (NYSE:ALB) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.08 by $0.01. The company had revenue of $648.80 million for the quarter, compared to the consensus estimate of $655.97 million. During the same quarter last year, the company posted $1.10 earnings per share. Albemarle Corp.’s revenue was down 1.9% compared to the same quarter last year. Analysts expect that Albemarle Corp. will post $4.07 EPS for the current fiscal year.
Albemarle Corporation (NYSE:ALB) is a developer, manufacturer and marketer of specialty chemicals, which meet customer needs across a range of end markets, including the petroleum refining, consumer electronics, plastics/packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food-safety and custom chemistry services markets.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.