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.
COPYRIGHT VIOLATION NOTICE: This story was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/11/12/nomura-increases-albemarle-corporation-alb-price-target-to-159-00.html.
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.
Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with MarketBeat.com's FREE daily email newsletter.