Today: Today: Brokerages Set Albemarle Corp. (ALB) PT at $77.13

Today: Brokerages Set Albemarle Corp. (ALB) PT at $77.13

Albemarle Corp. (NYSE:ALB) has received a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the stock. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $77.13.

Several analysts have commented on ALB shares. Deutsche Bank AG restated a “buy” rating on shares of Albemarle Corp. in a report on Wednesday, August 24th. Zacks Investment Research upgraded shares of Albemarle Corp. from a “sell” rating to a “hold” rating in a report on Monday, October 10th. Citigroup Inc. reaffirmed a “buy” rating and set a $89.00 target price on shares of Albemarle Corp. in a research note on Wednesday, June 29th. Finally, Nomura set a $92.00 target price on shares of Albemarle Corp. and gave the company a “buy” rating in a research note on Tuesday, August 23rd.

Albemarle Corp. (NYSE:ALB) opened at 80.86 on Friday. Albemarle Corp. has a 1-year low of $45.78 and a 1-year high of $87.29. The company has a 50-day moving average price of $81.02 and a 200 day moving average price of $77.90. The stock has a market cap of $9.09 billion, a P/E ratio of 59.54 and a beta of 1.77.

Albemarle Corp. (NYSE:ALB) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.08. Albemarle Corp. had a net margin of 4.54% and a return on equity of 14.52%. The business earned $669.30 million during the quarter, compared to analyst estimates of $860.40 million. During the same period last year, the business posted $0.73 earnings per share. Albemarle Corp.’s quarterly revenue was down 6.8% compared to the same quarter last year. Equities analysts expect that Albemarle Corp. will post $3.48 earnings per share for the current fiscal year.

In other news, Director John Sherman, Jr. sold 4,300 shares of Albemarle Corp. stock in a transaction on Friday, August 5th. The shares were sold at an average price of $82.09, for a total transaction of $352,987.00. Following the transaction, the director now owns 1,500 shares in the company, valued at approximately $123,135. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Luther C. Iv Kissam sold 50,000 shares of Albemarle Corp. stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $83.19, for a total transaction of $4,159,500.00. Following the transaction, the chief executive officer now owns 233,000 shares in the company, valued at approximately $19,383,270. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its position in shares of Albemarle Corp. by 16.8% in the third quarter. Creative Planning now owns 1,228 shares of the company’s stock valued at $105,000 after buying an additional 177 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Albemarle Corp. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,438 shares of the company’s stock valued at $114,000 after buying an additional 7 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Albemarle Corp. by 475.4% in the third quarter. Carroll Financial Associates Inc. now owns 1,381 shares of the company’s stock valued at $118,000 after buying an additional 1,141 shares in the last quarter. Cantab Capital Partners LLP acquired a new position in shares of Albemarle Corp. during the second quarter valued at $120,000. Finally, Mizuho Asset Management Co. Ltd. boosted its position in shares of Albemarle Corp. by 97.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,605 shares of the company’s stock valued at $127,000 after buying an additional 794 shares in the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.

Related posts

Leave a Comment