Albemarle (NYSE:ALB) Price Target Raised to $100.00

Albemarle (NYSE:ALB) had its price objective increased by Jefferies Financial Group from $81.00 to $100.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the specialty chemicals company’s stock.

ALB has been the topic of several other reports. KeyCorp cut shares of Albemarle from a sector weight rating to an underweight rating and set a $60.00 target price on the stock. in a research report on Monday, June 22nd. UBS Group decreased their target price on shares of Albemarle from $98.00 to $90.00 and set a buy rating on the stock in a research report on Thursday, May 7th. BMO Capital Markets cut their price target on shares of Albemarle from $115.00 to $80.00 and set an outperform rating on the stock in a report on Monday, April 6th. Goldman Sachs Group downgraded shares of Albemarle from a buy rating to a neutral rating and cut their price target for the company from $67.00 to $61.00 in a report on Tuesday, May 12th. Finally, SunTrust Banks cut their price target on shares of Albemarle from $90.00 to $65.00 and set a hold rating on the stock in a report on Monday, May 11th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $74.98.

Shares of NYSE ALB opened at $82.46 on Thursday. The firm’s 50-day moving average price is $80.39 and its 200-day moving average price is $74.06. The company has a current ratio of 1.81, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 2.90 and a beta of 1.46. Albemarle has a 12-month low of $48.89 and a 12-month high of $99.40.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, May 6th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.15. The firm had revenue of $738.85 million for the quarter, compared to analysts’ expectations of $769.26 million. Albemarle had a net margin of 14.50% and a return on equity of 15.34%. The business’s revenue was down 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. On average, equities analysts predict that Albemarle will post 3.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 18th will be given a $0.385 dividend. The ex-dividend date is Thursday, September 17th. This represents a $1.54 annualized dividend and a dividend yield of 1.87%. Albemarle’s payout ratio is presently 25.50%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Procyon Private Wealth Partners LLC purchased a new stake in shares of Albemarle in the 4th quarter worth approximately $30,000. Ellevest Inc. lifted its position in shares of Albemarle by 133.2% in the 2nd quarter. Ellevest Inc. now owns 492 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 281 shares during the period. Reitz Capital Advisors LLC purchased a new stake in shares of Albemarle in the 2nd quarter worth approximately $53,000. Sunbelt Securities Inc. purchased a new stake in shares of Albemarle in the 4th quarter worth approximately $13,845,000. Finally, Exane Derivatives lifted its position in Albemarle by 137.3% during the first quarter. Exane Derivatives now owns 814 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 471 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

About Albemarle

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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Analyst Recommendations for Albemarle (NYSE:ALB)

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