Cowen Boosts Albemarle (NYSE:ALB) Price Target to $300.00

Albemarle (NYSE:ALBGet Rating) had its target price lifted by analysts at Cowen from $275.00 to $300.00 in a report issued on Friday, The Fly reports. Cowen’s price target points to a potential upside of 26.85% from the company’s current price.

Other analysts have also recently issued research reports about the company. initiated coverage on Albemarle in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research cut Albemarle from a “strong-buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Monday, February 21st. Robert W. Baird cut their target price on Albemarle from $245.00 to $228.00 in a research report on Tuesday, February 22nd. Oppenheimer increased their target price on Albemarle from $307.00 to $368.00 in a research report on Friday. Finally, BMO Capital Markets cut their target price on Albemarle from $300.00 to $280.00 in a research report on Friday, February 18th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $250.62.

Albemarle stock opened at $236.50 on Friday. The stock has a market cap of $27.70 billion, a PE ratio of 99.37, a price-to-earnings-growth ratio of 1.64 and a beta of 1.55. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.64 and a current ratio of 1.07. Albemarle has a one year low of $150.00 and a one year high of $291.48. The stock has a fifty day moving average of $202.55 and a 200 day moving average of $226.36.

Albemarle (NYSE:ALBGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.75. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Albemarle had a return on equity of 7.79% and a net margin of 3.72%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 earnings per share. As a group, sell-side analysts predict that Albemarle will post 6.21 EPS for the current fiscal year.

In other Albemarle news, CEO J Kent Masters acquired 5,241 shares of the stock in a transaction dated Friday, February 18th. The stock was purchased at an average price of $190.80 per share, with a total value of $999,982.80. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Netha N. Johnson purchased 1,060 shares of the stock in a transaction on Friday, February 18th. The shares were purchased at an average cost of $187.81 per share, with a total value of $199,078.60. The disclosure for this purchase can be found here. 0.25% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Kozak & Associates Inc. acquired a new position in shares of Albemarle during the 3rd quarter worth approximately $27,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Albemarle during the first quarter worth $28,000. City State Bank purchased a new stake in shares of Albemarle during the fourth quarter worth $29,000. Salem Investment Counselors Inc. increased its position in shares of Albemarle by 127.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 70 shares during the period. Finally, Quent Capital LLC purchased a new stake in shares of Albemarle during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

About Albemarle (Get Rating)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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