Albemarle (ALB) Given a $130.00 Price Target at Loop Capital
Albemarle (NYSE:ALB) has been assigned a $130.00 target price by equities researchers at Loop Capital in a report released on Friday. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Loop Capital’s price objective would suggest a potential upside of 35.88% from the stock’s current price.
Several other research firms also recently commented on ALB. ValuEngine raised Albemarle from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Vertical Research assumed coverage on Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price objective for the company. Vertical Group assumed coverage on Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price objective for the company. SunTrust Banks raised Albemarle from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $115.00 in a research note on Tuesday, September 4th. Finally, Goldman Sachs Group raised Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Tuesday, July 3rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $124.55.
Shares of ALB stock opened at $95.67 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.19 and a quick ratio of 1.55. The company has a market cap of $10.45 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.69. Albemarle has a 1-year low of $86.75 and a 1-year high of $144.99.
In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $97.11, for a total value of $301,041.00. Following the completion of the sale, the executive vice president now directly owns 30,242 shares in the company, valued at approximately $2,936,800.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.80% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Credit Agricole S A purchased a new stake in Albemarle in the 2nd quarter valued at $123,000. SeaCrest Wealth Management LLC grew its holdings in shares of Albemarle by 145.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 1,004 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Albemarle during the 2nd quarter worth $212,000. Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Albemarle during the 3rd quarter worth $215,000. Finally, Levin Capital Strategies L.P. grew its holdings in shares of Albemarle by 42.9% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,500 shares of the specialty chemicals company’s stock worth $232,000 after purchasing an additional 750 shares during the period. Institutional investors own 90.69% of the company’s stock.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
Featured Story: Understanding each part of a balance sheet
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.