Robert W. Baird Upgrades Albemarle (ALB) to “Outperform”
Albemarle (NYSE:ALB) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $133.51 price target on the specialty chemicals company’s stock, up from their previous price target of $131.72. Robert W. Baird’s price objective suggests a potential downside of 1.42% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Jefferies Group reaffirmed a “buy” rating on shares of Albemarle in a research note on Tuesday, October 24th. Royal Bank of Canada lifted their target price on shares of Albemarle from $149.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Goldman Sachs Group cut shares of Albemarle from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $139.66 to $142.00 in a research note on Friday, October 6th. Zacks Investment Research cut shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, Oppenheimer lifted their target price on shares of Albemarle from $133.00 to $157.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Albemarle has a consensus rating of “Buy” and an average target price of $128.38.
Shares of Albemarle (ALB) opened at $135.44 on Monday. Albemarle has a one year low of $89.09 and a one year high of $144.99. The stock has a market cap of $14,970.00, a price-to-earnings ratio of 48.37, a P/E/G ratio of 1.73 and a beta of 1.69. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35.
Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $732.19 million. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. equities analysts expect that Albemarle will post 4.46 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of ALB. Pacer Advisors Inc. raised its holdings in Albemarle by 9.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,118 shares of the specialty chemicals company’s stock valued at $224,000 after buying an additional 174 shares during the period. Neuberger Berman Group LLC raised its holdings in Albemarle by 43.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 13,701 shares of the specialty chemicals company’s stock valued at $1,446,000 after buying an additional 4,154 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Albemarle in the 2nd quarter valued at about $386,000. Commerce Bank purchased a new stake in Albemarle in the 2nd quarter valued at about $222,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in Albemarle by 4.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,570 shares of the specialty chemicals company’s stock valued at $799,000 after buying an additional 295 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.
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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.
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