Albemarle ($Albemarle(ALB.US)$) had its price target increased by equities researchers at Oppenheimer from $368.00 to $440.00 in a research report issued on Monday, Stock Target Advisor reports. The brokerage presently has an "outperform" rating on the specialty chemicals company's stock. Oppenheimer's price target suggests a potential upside of 79.84% from the company's current price.
Several other brokerages have also recently weighed in on ALB. TheStreet raised shares of Albemarle from a "c+" rating to a "b" rating in a research note on Wednesday, May 4th. Wells Fargo & Company raised their price target on shares of Albemarle from $285.00 to $320.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 24th. Jefferies Financial Group reaffirmed a "buy" rating and set a $290.00 price target on shares of Albemarle in a research note on Monday, May 16th. KeyCorp raised shares of Albemarle from an "underweight" rating to a "sector weight" rating in a research note on Wednesday, July 20th. Finally, Cowen raised their price target on shares of Albemarle from $275.00 to $300.00 in a research note on Friday, May 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $279.05.
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Albemarle Price Performance
NYSE ALB opened at $244.66 on Monday. The business has a 50 day simple moving average of $223.22 and a 200 day simple moving average of $216.18. Albemarle has a 52-week low of $169.93 and a 52-week high of $291.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.20 and a current ratio of 1.88. The stock has a market cap of $28.66 billion, a price-to-earnings ratio of 110.21, a PEG ratio of 0.45 and a beta of 1.58.
Albemarle (NYSE:ALB – Get Rating) last posted its earnings results on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.79 by $0.66. Albemarle had a return on equity of 15.39% and a net margin of 6.08%. During the same quarter in the previous year, the business posted $0.89 earnings per share. Analysts anticipate that Albemarle will post 20.75 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Albemarle
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Albemarle by 0.6% during the first quarter. Vanguard Group Inc. now owns 13,661,001 shares of the specialty chemicals company's stock worth $3,021,130,000 after buying an additional 75,867 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Albemarle by 8.8% during the first quarter. BlackRock Inc. now owns 9,924,312 shares of the specialty chemicals company's stock worth $2,194,761,000 after buying an additional 803,134 shares in the last quarter. State Street Corp lifted its holdings in shares of Albemarle by 0.3% during the first quarter. State Street Corp now owns 5,364,655 shares of the specialty chemicals company's stock worth $1,188,408,000 after buying an additional 16,968 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Albemarle by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,145,611 shares of the specialty chemicals company's stock worth $500,283,000 after buying an additional 71,109 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Albemarle by 181.3% during the first quarter. Bank of America Corp DE now owns 1,489,347 shares of the specialty chemicals company's stock worth $329,369,000 after buying an additional 959,810 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.
About Albemarle
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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
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