Albemarle Corporation (ALB) PT Raised to $150.00 at UBS AG
Albemarle Corporation (NYSE:ALB) had its price objective boosted by equities researchers at UBS AG from $123.00 to $150.00 in a research note issued on Thursday. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS AG’s price objective indicates a potential upside of 6.67% from the company’s previous close.
Other analysts have also issued reports about the company. CIBC assumed coverage on Albemarle Corporation in a research report on Thursday, August 17th. They issued an “outperform” rating and a $133.00 price objective for the company. Jefferies Group LLC reiterated a “buy” rating on shares of Albemarle Corporation in a research report on Tuesday, October 24th. SunTrust Banks, Inc. lowered Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective for the company. in a research report on Wednesday, August 9th. BidaskClub lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Goldman Sachs Group, Inc. (The) lowered Albemarle Corporation from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $139.66 to $142.00 in a research report on Friday, October 6th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Albemarle Corporation presently has a consensus rating of “Buy” and a consensus target price of $128.15.
Shares of Albemarle Corporation (ALB) opened at $140.62 on Thursday. The company has a quick ratio of 1.67, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $15,562.20, a PE ratio of 34.86, a P/E/G ratio of 2.16 and a beta of 1.72. Albemarle Corporation has a 12-month low of $76.32 and a 12-month high of $144.99.
Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. analysts anticipate that Albemarle Corporation will post 4.4 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This report was originally reported by Watch List News and is owned by of Watch List News. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.watchlistnews.com/albemarle-corporation-alb-pt-raised-to-150-00-at-ubs-ag/1694883.html.
In other news, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the transaction, the executive vice president now owns 36,620 shares in the company, valued at approximately $4,246,089. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $115.77, for a total value of $624,810.69. Following the transaction, the executive vice president now owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. lifted its holdings in shares of Albemarle Corporation by 26.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,751 shares of the specialty chemicals company’s stock valued at $185,000 after purchasing an additional 370 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Albemarle Corporation by 100.8% during the 2nd quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock valued at $19,478,000 after purchasing an additional 92,650 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Albemarle Corporation during the 2nd quarter valued at about $439,000. Sumitomo Life Insurance Co. bought a new position in shares of Albemarle Corporation during the 3rd quarter valued at about $1,703,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Albemarle Corporation by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock valued at $1,319,389,000 after purchasing an additional 213,530 shares in the last quarter. Institutional investors and hedge funds own 83.82% of the company’s stock.
Albemarle Corporation 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.
Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.