Nomura Increases Albemarle Corporation (ALB) Price Target to $159.00

Albemarle Corporation (NYSE:ALB) had its target price hoisted by equities research analysts at Nomura to $159.00 in a research report issued to clients and investors on Friday. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Nomura’s price target would indicate a potential upside of 13.07% from the stock’s current price.

Several other research firms have also weighed in on ALB. Robert W. Baird restated a “hold” rating and issued a $135.00 target price on shares of Albemarle Corporation in a report on Wednesday, November 1st. Royal Bank Of Canada boosted their target price on Albemarle Corporation from $149.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday. Zacks Investment Research upgraded Albemarle Corporation from a “hold” rating to a “buy” rating and set a $157.00 target price for the company in a report on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) lowered Albemarle Corporation from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $139.66 to $142.00 in a report on Friday, October 6th. Finally, Instinet restated a “buy” rating and issued a $154.00 target price (up from $146.00) on shares of Albemarle Corporation in a report on Friday, October 13th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Albemarle Corporation presently has an average rating of “Buy” and an average target price of $128.15.

Shares of Albemarle Corporation (NYSE:ALB) opened at $140.62 on Friday. Albemarle Corporation has a 1-year low of $76.32 and a 1-year high of $144.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.67 and a current ratio of 2.11. The stock has a market capitalization of $15,537.95, a PE ratio of 34.81, a PEG ratio of 2.16 and a beta of 1.72.

Albemarle Corporation (NYSE:ALB) last posted its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. During the same period in the previous year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. sell-side analysts anticipate that Albemarle Corporation will post 4.45 earnings per share for the current year.

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In other news, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the sale, the executive vice president now directly owns 360 shares in the company, valued at $41,677.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Karen G. Narwold sold 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Cornerstone Advisors Inc. boosted its stake in Albemarle Corporation by 26.8% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,751 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 370 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Albemarle Corporation by 100.8% in the 2nd quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock valued at $19,478,000 after buying an additional 92,650 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Albemarle Corporation in the 2nd quarter valued at $439,000. Sumitomo Life Insurance Co. acquired a new stake in Albemarle Corporation in the 3rd quarter valued at $1,703,000. Finally, Vanguard Group Inc. boosted its stake in Albemarle Corporation by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock valued at $1,319,389,000 after buying an additional 213,530 shares in the last quarter. 83.82% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Corporation 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.

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

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