Albemarle (NYSE:ALB) had its price target cut by research analysts at Jefferies Group to $150.00 in a report issued on Friday, January 19th. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Jefferies Group’s price target suggests a potential upside of 34.42% from the stock’s previous close.
A number of other research firms also recently issued reports on ALB. Loop Capital initiated coverage on Albemarle in a research note on Thursday, September 28th. They issued a “buy” rating and a $150.00 price objective on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $149.00 price objective on shares of Albemarle in a research note on Wednesday, October 18th. Nomura lifted their target price on Albemarle from $146.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Robert W. Baird reiterated a “hold” rating and issued a $135.00 target price on shares of Albemarle in a report on Wednesday, November 1st. Finally, Oppenheimer lifted their target price on Albemarle from $133.00 to $157.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Albemarle presently has a consensus rating of “Buy” and a consensus price target of $127.88.
Shares of Albemarle (ALB) traded up $3.87 on Friday, reaching $111.59. The company had a trading volume of 2,640,000 shares, compared to its average volume of 2,270,000. The company has a market cap of $12,330.00, a P/E ratio of 39.85, a PEG ratio of 1.42 and a beta of 1.56. Albemarle has a 52 week low of $90.35 and a 52 week high of $144.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56.
Several hedge funds have recently modified their holdings of the business. ARK Investment Management LLC lifted its holdings in shares of Albemarle by 40.0% in the 4th quarter. ARK Investment Management LLC now owns 8,333 shares of the specialty chemicals company’s stock worth $1,066,000 after buying an additional 2,380 shares during the period. Quadrature Capital Ltd bought a new position in shares of Albemarle in the 4th quarter worth $508,000. Allen Capital Group LLC bought a new position in shares of Albemarle in the 4th quarter worth $604,000. Suntrust Banks Inc. raised its position in shares of Albemarle by 8.4% in the 4th quarter. Suntrust Banks Inc. now owns 17,920 shares of the specialty chemicals company’s stock worth $2,290,000 after acquiring an additional 1,389 shares in the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in shares of Albemarle in the 4th quarter worth $729,000. Institutional investors and hedge funds own 87.38% of the company’s stock.
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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