Albemarle (NYSE:ALB) has been given a $150.00 price target by research analysts at Loop Capital in a report released on Tuesday. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Loop Capital’s target price would suggest a potential upside of 14.22% from the stock’s current price.
A number of other equities research analysts have also commented on ALB. Jefferies Group set a $144.00 price objective on shares of Albemarle and gave the company a “buy” rating in a research note on Monday, August 21st. KeyCorp reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Albemarle in a research note on Sunday, September 3rd. Instinet increased their target price on shares of Albemarle from $134.00 to $146.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. Royal Bank of Canada reissued a “buy” rating and set a $136.00 target price on shares of Albemarle in a research note on Wednesday, September 20th. Finally, Robert W. Baird lowered shares of Albemarle from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $134.29 to $135.00 in a research note on Monday, September 25th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Albemarle presently has a consensus rating of “Buy” and a consensus target price of $128.45.
Albemarle (ALB) traded down $0.69 during trading hours on Tuesday, hitting $131.33. 811,333 shares of the stock were exchanged, compared to its average volume of 1,181,516. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. Albemarle has a 12 month low of $85.60 and a 12 month high of $144.99. The company has a market cap of $14,594.26, a price-to-earnings ratio of 32.69, a P/E/G ratio of 2.00 and a beta of 1.69.
Several institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC lifted its stake in shares of Albemarle by 6.4% in the third quarter. Parametric Portfolio Associates LLC now owns 174,747 shares of the specialty chemicals company’s stock valued at $23,820,000 after buying an additional 10,503 shares in the last quarter. Energy Opportunities Capital Management LLC bought a new position in shares of Albemarle in the third quarter valued at $1,413,000. Aldebaran Financial Inc. bought a new position in shares of Albemarle in the third quarter valued at $2,747,000. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Albemarle by 30,562.5% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 4,906 shares of the specialty chemicals company’s stock valued at $669,000 after buying an additional 4,890 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in shares of Albemarle in the third quarter valued at $651,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.
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Albemarle Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
