Albemarle’s (ALB) Hold Rating Reiterated at Seaport Global Securities
Seaport Global Securities reaffirmed their hold rating on shares of Albemarle (NYSE:ALB) in a research note released on Monday morning. The firm currently has a $130.00 price target on the specialty chemicals company’s stock. Seaport Global Securities also issued estimates for Albemarle’s Q4 2017 earnings at $1.16 EPS, FY2017 earnings at $4.42 EPS, Q1 2018 earnings at $1.18 EPS, Q2 2018 earnings at $1.24 EPS, Q3 2018 earnings at $1.34 EPS, Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $5.03 EPS and FY2019 earnings at $5.78 EPS.
Other equities analysts also recently issued reports about the company. Jefferies Group boosted their price objective on Albemarle from $156.00 to $162.00 and gave the stock a buy rating in a research report on Tuesday, November 14th. Royal Bank of Canada reissued a buy rating and set a $149.00 price objective on shares of Albemarle in a research report on Wednesday, October 18th. Zacks Investment Research raised Albemarle from a hold rating to a buy rating and set a $157.00 price objective for the company in a research report on Tuesday, October 17th. KeyCorp boosted their price objective on Albemarle from $125.00 to $150.00 and gave the stock a buy rating in a research report on Monday, October 16th. Finally, Instinet reissued a buy rating and set a $154.00 price objective (up from $146.00) on shares of Albemarle in a research report on Friday, October 13th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $127.88.
Shares of Albemarle (NYSE ALB) opened at $105.18 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. The stock has a market cap of $11,620.00, a PE ratio of 37.56, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56. Albemarle has a one year low of $90.35 and a one year high of $144.99.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. boosted its holdings in Albemarle by 650.0% in the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 650 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Albemarle in the fourth quarter valued at approximately $103,000. Highlander Capital Management LLC acquired a new stake in shares of Albemarle in the second quarter valued at approximately $106,000. Stephens Inc. AR acquired a new stake in shares of Albemarle in the fourth quarter valued at approximately $115,000. Finally, Advisory Services Network LLC boosted its holdings in shares of Albemarle by 43.7% in the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after acquiring an additional 387 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.
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Albemarle Company Profile
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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