Royal Bank of Canada Raises Albemarle (NYSE:ALB) Price Target to $300.00

Albemarle (NYSE:ALBGet Rating) had its price target increased by research analysts at Royal Bank of Canada from $276.00 to $300.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Royal Bank of Canada’s target price would indicate a potential upside of 35.35% from the stock’s current price.

Several other analysts have also commented on ALB. Oppenheimer lifted their price objective on shares of Albemarle from $307.00 to $368.00 in a research report on Friday. Mizuho lifted their price target on shares of Albemarle from $243.00 to $293.00 in a report on Friday. StockNews.com raised Albemarle from a “sell” rating to a “hold” rating in a report on Friday. Bank of America lowered their target price on Albemarle from $230.00 to $216.00 in a research note on Friday, February 18th. Finally, HSBC raised Albemarle from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $250.00 to $280.00 in a report on Wednesday, January 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $259.10.

ALB stock opened at $221.64 on Tuesday. The firm has a market cap of $25.96 billion, a PE ratio of 93.13, a P/E/G ratio of 1.17 and a beta of 1.55. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $204.18 and a 200-day moving average of $226.22. Albemarle has a 12-month low of $152.58 and a 12-month high of $291.48.

Albemarle (NYSE:ALBGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.65. Albemarle had a return on equity of 10.35% and a net margin of 7.76%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The business’s revenue was up 36.0% on a year-over-year basis. On average, research analysts expect that Albemarle will post 10.75 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kozak & Associates Inc. purchased a new stake in Albemarle during the third quarter worth $27,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Albemarle during the 1st quarter worth $28,000. City State Bank purchased a new stake in shares of Albemarle during the 4th quarter worth $29,000. Salem Investment Counselors Inc. grew its stake in Albemarle by 127.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. Finally, Quent Capital LLC bought a new position in Albemarle in the fourth quarter worth about $31,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Company Profile (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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