Albemarle Corp. Given Consensus Recommendation of “Hold” by Brokerages (NYSE:ALB)
Albemarle Corp. (NYSE:ALB) has received an average rating of “Hold” from the nine brokerages that are covering the company, Analyst Ratings Net reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $70.99.
Shares of Albemarle Corp. (NYSE:ALB) opened at 72.00 on Wednesday. Albemarle Corp. has a 1-year low of $60.16 and a 1-year high of $72.79. The stock’s 50-day moving average is $71.05 and its 200-day moving average is $66.89. The company has a market cap of $5.727 billion and a P/E ratio of 15.21.
Albemarle Corp. (NYSE:ALB) last released its earnings data on Wednesday, April 16th. The company reported $0.96 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.95 by $0.01. The company had revenue of $656.70 million for the quarter, compared to the consensus estimate of $655.87 million. During the same quarter last year, the company posted $0.93 earnings per share. Albemarle Corp.’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that Albemarle Corp. will post $4.32 EPS for the current fiscal year.
A number of research firms have recently commented on ALB. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Albemarle Corp. in a research note on Wednesday. They now have a $73.00 price target on the stock, up previously from $69.00. Separately, analysts at Jefferies Group raised their price target on shares of Albemarle Corp. from $81.00 to $85.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Albemarle Corp. from $70.00 to $74.00 in a research note on Thursday, April 24th.
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.
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