JPMorgan Chase – Albemarle (NYSE:ALB) price Target Raised to $117.00
Albemarle (NYSE:ALB) had its target price raised by stock analysts at KeyCorp from $107.00 to $117.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage presently has an “underweight” rating on the specialty chemicals company’s stock. KeyCorp’s price target suggests a potential downside of 23.45% from the stock’s current price.
A number of other research analysts have also recently commented on ALB. Argus increased their target price on Albemarle from $140.00 to $177.00 and gave the company a “buy” rating in a research note on Monday, March 1st. Citigroup raised Albemarle from a “neutral” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Friday, February 12th. Zacks Investment Research cut Albemarle from a “hold” rating to a “sell” rating and set a $169.00 price objective on the stock. in a research note on Friday, March 12th. JPMorgan Chase & Co. raised Albemarle from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $125.00 to $152.00 in a research note on Friday. Finally, Evercore ISI raised Albemarle from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $160.00 to $200.00 in a research note on Monday, April 26th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $132.54.
ALB opened at $152.85 on Friday. The stock has a market cap of $17.84 billion, a PE ratio of 42.70, a P/E/G ratio of 3.79 and a beta of 1.59. The company has a quick ratio of 0.87, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. Albemarle has a 52 week low of $56.17 and a 52 week high of $188.35. The business’s fifty day simple moving average is $154.31 and its 200 day simple moving average is $146.63.
Albemarle (NYSE:ALB) last released its earnings results on Tuesday, May 4th. The specialty chemicals company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.30. Albemarle had a return on equity of 11.96% and a net margin of 11.77%. As a group, equities analysts anticipate that Albemarle will post 3.94 earnings per share for the current year.
In other news, Director Luther C. Iv Kissam sold 15,478 shares of Albemarle stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $152.26, for a total transaction of $2,356,680.28. Also, EVP Karen G. Narwold sold 1,478 shares of Albemarle stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $153.89, for a total transaction of $227,449.42. Following the transaction, the executive vice president now owns 43,695 shares of the company’s stock, valued at $6,724,223.55. The disclosure for this sale can be found here. Insiders sold 18,477 shares of company stock valued at $2,818,196 over the last 90 days. 1.07% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Albemarle by 199.5% during the fourth quarter. Victory Capital Management Inc. now owns 88,712 shares of the specialty chemicals company’s stock valued at $13,087,000 after purchasing an additional 59,096 shares during the last quarter. Cornerstone Wealth Group LLC bought a new stake in shares of Albemarle during the fourth quarter valued at approximately $1,845,000. Kinloch Capital LLC bought a new stake in shares of Albemarle during the fourth quarter valued at approximately $48,000. AMG National Trust Bank bought a new stake in shares of Albemarle during the fourth quarter valued at approximately $271,000. Finally, DCM Advisors LLC bought a new stake in shares of Albemarle during the fourth quarter valued at approximately $1,668,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine Specialties, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use 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 in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
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