Albemarle (ALB) Stock Rating Upgraded by Robert W. Baird
Robert W. Baird upgraded shares of Albemarle (NYSE:ALB) from a neutral rating to an outperform rating in a report issued on Monday, Marketbeat reports. The brokerage currently has $133.51 price objective on the specialty chemicals company’s stock, up from their previous price objective of $131.72.
A number of other equities research analysts also recently commented on ALB. Instinet upped their price objective on Albemarle from $134.00 to $146.00 and gave the company a buy rating in a report on Monday, September 18th. Royal Bank of Canada reiterated a buy rating and issued a $136.00 price objective on shares of Albemarle in a report on Wednesday, September 20th. Jefferies Group upped their price objective on Albemarle from $144.00 to $156.00 and gave the company a buy rating in a report on Thursday, September 21st. Loop Capital initiated coverage on Albemarle in a report on Thursday, September 28th. They issued a buy rating and a $150.00 price objective for the company. Finally, Goldman Sachs Group downgraded Albemarle from a buy rating to a neutral rating and upped their price objective for the company from $139.66 to $142.00 in a report on Friday, October 6th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $128.38.
Shares of Albemarle (NYSE:ALB) traded down $2.01 on Monday, hitting $135.44. The stock had a trading volume of 1,197,630 shares, compared to its average volume of 1,100,000. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. Albemarle has a twelve month low of $89.09 and a twelve month high of $144.99. The firm has a market capitalization of $14,970.00, a price-to-earnings ratio of 48.37, a PEG ratio of 1.73 and a beta of 1.69.
Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. equities analysts predict that Albemarle will post 4.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a $0.32 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.95%. Albemarle’s dividend payout ratio (DPR) is currently 45.71%.
Several institutional investors have recently made changes to their positions in the business. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Albemarle in the fourth quarter worth about $2,033,000. Renaissance Investment Group LLC bought a new stake in shares of Albemarle in the fourth quarter worth about $201,000. Atlantic Trust Group LLC increased its holdings in shares of Albemarle by 256.2% in the third quarter. Atlantic Trust Group LLC now owns 46,160 shares of the specialty chemicals company’s stock worth $6,292,000 after acquiring an additional 33,200 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Albemarle by 6.4% in the third quarter. Parametric Portfolio Associates LLC now owns 174,747 shares of the specialty chemicals company’s stock worth $23,820,000 after acquiring an additional 10,503 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC bought a new stake in shares of Albemarle in the third quarter worth about $1,413,000. Institutional investors own 87.99% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Albemarle (ALB) Stock Rating Upgraded by Robert W. Baird” was reported by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://www.dailypolitical.com/2018/01/09/albemarle-alb-stock-rating-upgraded-by-robert-w-baird.html.
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.
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.