Recent Analysts’ Ratings Updates for Albemarle Corporation (ALB)

Several brokerages have updated their recommendations and price targets on shares of Albemarle Corporation (NYSE: ALB) in the last few weeks:

  • 10/17/2017 – Albemarle Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $157.00 price target on the stock. According to Zacks, “Albemarle has outperformed the industry it belongs to over a year.  Albemarle remains focused on strengthening its lithium business. It is well placed to leverage strong expected growth in the battery-grade lithium market. The company should also gain from the synergies of Rockwood Holdings acquisition. Albemarle is also divesting non-core assets to boost growth opportunities and focus on its key businesses. Moreover, the company remains committed to deliver incremental returns to shareholders.”
  • 10/16/2017 – Albemarle Corporation had its price target raised by analysts at Oppenheimer Holdings, Inc. from $133.00 to $157.00. They now have an “outperform” rating on the stock.
  • 10/16/2017 – Albemarle Corporation had its price target raised by analysts at KeyCorp from $125.00 to $150.00. They now have a “buy” rating on the stock.
  • 10/13/2017 – Albemarle Corporation had its “buy” rating reaffirmed by analysts at Instinet. They now have a $154.00 price target on the stock, up previously from $146.00.
  • 10/10/2017 – Albemarle Corporation had its price target raised by analysts at Nomura from $146.00 to $154.00. They now have a “buy” rating on the stock.
  • 10/6/2017 – Albemarle Corporation was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating. They now have a $142.00 price target on the stock, up previously from $139.66.
  • 9/28/2017 – Albemarle Corporation is now covered by analysts at Loop Capital. They set a “buy” rating and a $150.00 price target on the stock.
  • 9/25/2017 – Albemarle Corporation was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $135.00 price target on the stock, up previously from $134.29. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 9/21/2017 – Albemarle Corporation had its price target raised by analysts at Jefferies Group LLC from $144.00 to $156.00. They now have a “buy” rating on the stock.
  • 9/20/2017 – Albemarle Corporation had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $136.00 price target on the stock.
  • 9/18/2017 – Albemarle Corporation had its price target raised by analysts at Instinet from $134.00 to $146.00. They now have a “buy” rating on the stock.
  • 9/3/2017 – Albemarle Corporation had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $125.00 price target on the stock.
  • 8/21/2017 – Albemarle Corporation was given a new $144.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.

Shares of Albemarle Corporation (NYSE:ALB) traded down 0.54% during mid-day trading on Tuesday, reaching $139.41. 1,048,857 shares of the company were exchanged. Albemarle Corporation has a 12 month low of $76.32 and a 12 month high of $140.70. The company’s 50 day moving average price is $128.91 and its 200 day moving average price is $115.43. The firm has a market capitalization of $15.40 billion, a PE ratio of 17.83 and a beta of 1.66.

Albemarle Corporation (NYSE:ALB) last released its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The business had revenue of $737.25 million for the quarter, compared to analyst estimates of $735.50 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Albemarle Corporation will post $4.38 earnings per share for the current year.

In other news, 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $115.77, for a total transaction of $624,810.69. Following the sale, the executive vice president now owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

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.

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