Albemarle (NYSE:ALB) was upgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday, The Fly reports.
Several other brokerages also recently commented on ALB. Zacks Investment Research downgraded Albemarle from a “buy” rating to a “hold” rating in a report on Friday, May 18th. Nomura reduced their target price on Albemarle to $130.00 and set a “buy” rating for the company in a report on Friday, May 11th. TheStreet raised Albemarle from a “c+” rating to a “b” rating in a report on Wednesday, May 9th. Royal Bank of Canada reaffirmed a “buy” rating and set a $113.00 target price on shares of Albemarle in a report on Tuesday, April 17th. Finally, Vertical Research raised Albemarle from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have issued a buy rating to the company. Albemarle presently has a consensus rating of “Buy” and an average price target of $131.60.
Shares of Albemarle opened at $93.48 on Tuesday, according to Marketbeat Ratings. Albemarle has a 12 month low of $86.75 and a 12 month high of $144.99. The firm has a market cap of $10.45 billion, a PE ratio of 20.37, a P/E/G ratio of 1.29 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.48 and a quick ratio of 1.72.
Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, May 9th. The specialty chemicals company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.20 by $0.10. Albemarle had a return on equity of 13.80% and a net margin of 4.27%. The business had revenue of $821.60 million during the quarter, compared to the consensus estimate of $798.20 million. During the same period in the prior year, the business posted $1.05 earnings per share. Albemarle’s revenue was up 13.8% compared to the same quarter last year. research analysts anticipate that Albemarle will post 5.25 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Albemarle by 5.0% in the 1st quarter. BlackRock Inc. now owns 8,462,171 shares of the specialty chemicals company’s stock worth $784,785,000 after purchasing an additional 400,323 shares during the last quarter. Iridian Asset Management LLC CT increased its position in Albemarle by 43.6% in the 1st quarter. Iridian Asset Management LLC CT now owns 1,985,826 shares of the specialty chemicals company’s stock worth $184,166,000 after purchasing an additional 602,784 shares during the last quarter. Global X Management Co. LLC increased its position in Albemarle by 7.7% in the 1st quarter. Global X Management Co. LLC now owns 1,622,819 shares of the specialty chemicals company’s stock worth $150,500,000 after purchasing an additional 115,858 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Albemarle by 33.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,557,135 shares of the specialty chemicals company’s stock worth $144,409,000 after purchasing an additional 392,519 shares during the last quarter. Finally, Carmignac Gestion acquired a new position in Albemarle in the 1st quarter worth about $113,591,000. 86.20% of the stock is currently owned by institutional investors.
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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