Albemarle (ALB) Upgraded to “Outperform” at Robert W. Baird
Albemarle (NYSE:ALB) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday, The Fly reports.
Several other equities analysts have also commented on ALB. Loop Capital began coverage on Albemarle in a research report on Thursday, September 28th. They set a “buy” rating and a $150.00 price objective for the company. UBS Group raised their price objective on Albemarle from $123.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Royal Bank of Canada reissued a “buy” rating and set a $149.00 price objective on shares of Albemarle in a research report on Wednesday, October 18th. KeyCorp raised their price objective on Albemarle from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, Jefferies Group raised their price objective on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $128.45.
Albemarle (ALB) opened at $131.72 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $14,554.48, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.69. Albemarle has a 52-week low of $89.09 and a 52-week high of $144.99.
Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. equities research analysts forecast that Albemarle will post 4.46 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its holdings in Albemarle by 100.8% in the 2nd quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock worth $19,478,000 after buying an additional 92,650 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Albemarle in the 2nd quarter worth about $11,681,000. Sumitomo Life Insurance Co. bought a new stake in Albemarle in the 3rd quarter worth about $1,703,000. Vanguard Group Inc. increased its holdings in Albemarle by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after buying an additional 213,530 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC increased its holdings in Albemarle by 1.9% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 285,837 shares of the specialty chemicals company’s stock worth $38,962,000 after buying an additional 5,430 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.
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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.
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