Albemarle (NYSE:ALB)‘s stock had its “overweight” rating reissued by equities research analysts at KeyCorp in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $94.00 price target on the specialty chemicals company’s stock, down from their previous price target of $100.00. KeyCorp’s price objective indicates a potential upside of 33.18% from the stock’s current price.
A number of other equities research analysts also recently commented on ALB. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Loop Capital cut their price objective on Albemarle to $108.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. TheStreet downgraded Tribune Publishing from a “c-” rating to a “d+” rating in a research report on Monday, May 20th. Royal Bank of Canada increased their price objective on PVH to $145.00 and gave the company an “outperform” rating in a research report on Friday, March 29th. Finally, Buckingham Research cut their price objective on Albemarle from $100.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, March 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Albemarle currently has an average rating of “Hold” and a consensus price target of $95.77.
NYSE ALB traded up $0.09 on Tuesday, reaching $70.58. 813,168 shares of the stock traded hands, compared to its average volume of 1,461,216. The stock’s fifty day moving average price is $68.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 1.55. The company has a market capitalization of $7.48 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 0.74 and a beta of 1.63. Albemarle has a 12 month low of $63.10 and a 12 month high of $108.74.
Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. The firm had revenue of $832.06 million during the quarter, compared to analyst estimates of $827.94 million. During the same period last year, the company posted $1.30 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Research analysts predict that Albemarle will post 6.22 earnings per share for the current fiscal year.
In other Albemarle news, SVP Deeanne J. Marlow bought 1,000 shares of Albemarle stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the acquisition, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at $70,850. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.02% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ALB. BlackRock Inc. raised its holdings in shares of Albemarle by 2.4% during the first quarter. BlackRock Inc. now owns 7,621,922 shares of the specialty chemicals company’s stock worth $624,846,000 after acquiring an additional 176,605 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Albemarle by 6.0% during the first quarter. Primecap Management Co. CA now owns 4,415,880 shares of the specialty chemicals company’s stock worth $362,014,000 after acquiring an additional 249,100 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Albemarle by 0.5% during the fourth quarter. Baillie Gifford & Co. now owns 2,636,011 shares of the specialty chemicals company’s stock worth $203,158,000 after acquiring an additional 13,487 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Albemarle by 27.9% during the first quarter. Principal Financial Group Inc. now owns 1,720,253 shares of the specialty chemicals company’s stock worth $141,028,000 after acquiring an additional 375,253 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Albemarle by 15.8% during the first quarter. Artisan Partners Limited Partnership now owns 1,472,164 shares of the specialty chemicals company’s stock worth $120,688,000 after acquiring an additional 201,100 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.
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