Albemarle (NYSE:ALB)‘s stock had its “buy” rating reaffirmed by analysts at Royal Bank of Canada in a note issued to investors on Tuesday. They presently have a $113.00 price objective on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 16.65% from the company’s current price.
Several other equities analysts also recently weighed in on ALB. Zacks Investment Research downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Loop Capital set a $150.00 target price on shares of Albemarle and gave the company a “buy” rating in a report on Tuesday, December 19th. Robert W. Baird upgraded shares of Albemarle from a “neutral” rating to an “outperform” rating and raised their target price for the company from $131.72 to $133.51 in a report on Monday, January 8th. Oppenheimer restated a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Finally, Jefferies Group dropped their target price on shares of Albemarle to $150.00 and set a “buy” rating for the company in a report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $126.98.
NYSE:ALB opened at $96.87 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 2.06 and a debt-to-equity ratio of 0.37. Albemarle has a twelve month low of $86.75 and a twelve month high of $144.99. The stock has a market cap of $10,565.97, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.14 and a beta of 1.66.
Albemarle (NYSE:ALB) last posted its earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.13. Albemarle had a net margin of 1.79% and a return on equity of 13.27%. The firm had revenue of $857.79 million during the quarter, compared to the consensus estimate of $791.46 million. research analysts forecast that Albemarle will post 5.15 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Albemarle by 0.9% in the fourth quarter. BlackRock Inc. now owns 8,061,848 shares of the specialty chemicals company’s stock worth $1,031,029,000 after acquiring an additional 69,181 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Albemarle by 1.0% in the fourth quarter. Jennison Associates LLC now owns 7,876,682 shares of the specialty chemicals company’s stock worth $1,007,349,000 after acquiring an additional 79,606 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Albemarle by 497.9% in the fourth quarter. Global X Management Co. LLC now owns 1,506,961 shares of the specialty chemicals company’s stock worth $192,725,000 after acquiring an additional 1,254,927 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Albemarle by 7.4% in the fourth quarter. Allianz Asset Management GmbH now owns 1,404,515 shares of the specialty chemicals company’s stock worth $179,623,000 after acquiring an additional 96,611 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Albemarle by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,181,074 shares of the specialty chemicals company’s stock worth $150,737,000 after acquiring an additional 40,792 shares during the last quarter. 86.44% of the stock is currently owned by institutional investors and hedge funds.
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Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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