Albemarle Corp. Stock Rating Reaffirmed by KeyCorp (ALB)
Albemarle Corp. (NYSE:ALB)‘s stock had its “buy” rating reiterated by stock analysts at KeyCorp in a report issued on Wednesday. They currently have a $82.00 target price on the stock, up from their previous target price of $78.00. KeyCorp’s target price would suggest a potential upside of 17.09% from the company’s current price.
ALB has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Albemarle Corp. in a research note on Wednesday. They now have a $75.00 price target on the stock, up previously from $72.00. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Albemarle Corp. in a research note on Wednesday. They now have a $70.00 price target on the stock, up previously from $65.00. Finally, analysts at Oppenheimer downgraded shares of Albemarle Corp. from a “market perform” rating to an “underperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $72.29.
Shares of Albemarle Corp. (NYSE:ALB) traded down 1.47% during mid-day trading on Wednesday, hitting $69.00. The stock had a trading volume of 1,808,654 shares. Albemarle Corp. has a 1-year low of $60.16 and a 1-year high of $76.28. The stock’s 50-day moving average is $71.14 and its 200-day moving average is $67.04. The company has a market cap of $5.489 billion and a price-to-earnings ratio of 14.88.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, September 11th.
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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