Albemarle (NYSE:ALB) had its price objective cut by equities researchers at Jefferies Group to $150.00 in a report released on Friday, The Fly reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Jefferies Group’s price target would indicate a potential upside of 29.30% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Loop Capital began coverage on Albemarle in a report on Thursday, September 28th. They issued a “buy” rating and a $150.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $149.00 price objective on shares of Albemarle in a report on Wednesday, October 18th. Nomura upped their price objective on Albemarle from $146.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Robert W. Baird reiterated a “hold” rating and issued a $135.00 price objective on shares of Albemarle in a report on Wednesday, November 1st. Finally, Oppenheimer upped their price objective on Albemarle from $133.00 to $157.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Albemarle has an average rating of “Buy” and an average price target of $127.78.
Albemarle (NYSE ALB) traded down $1.90 during trading on Friday, reaching $116.01. The company had a trading volume of 4,262,737 shares, compared to its average volume of 1,332,663. Albemarle has a twelve month low of $90.35 and a twelve month high of $144.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. The stock has a market capitalization of $13,028.54, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.55 and a beta of 1.69.
Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. equities research analysts predict that Albemarle will post 4.46 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Albemarle by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 20 shares during the last quarter. Thompson Davis & CO. Inc. lifted its stake in shares of Albemarle by 650.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 650 shares during the last quarter. Highlander Capital Management LLC bought a new stake in shares of Albemarle in the 2nd quarter valued at about $106,000. Advisory Services Network LLC lifted its stake in shares of Albemarle by 43.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after acquiring an additional 387 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its stake in shares of Albemarle by 2,038.0% in the 3rd quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock valued at $146,000 after acquiring an additional 1,019 shares during the last quarter. 88.07% of the stock is owned by institutional investors.
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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.