UBS Group Increases Albemarle (NYSE:ALB) Price Target to $290.00

Albemarle (NYSE:ALB) had its target price raised by UBS Group from $240.00 to $290.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s target price indicates a potential upside of 25.83% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a research note on Tuesday, July 13th. Oppenheimer boosted their price target on Albemarle from $250.00 to $296.00 and gave the stock an “outperform” rating in a research note on Monday. Berenberg Bank upgraded Albemarle from a “sell” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $280.00 in a research note on Wednesday, September 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Albemarle from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada boosted their price target on Albemarle from $218.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $199.95.

ALB opened at $230.47 on Monday. The business’s 50-day moving average is $214.39 and its two-hundred day moving average is $178.41. Albemarle has a 1 year low of $79.06 and a 1 year high of $253.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.18 and a quick ratio of 1.44. The firm has a market capitalization of $26.95 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57.

Albemarle (NYSE:ALB) last posted its earnings results on Tuesday, August 3rd. The specialty chemicals company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. Albemarle had a return on equity of 8.92% and a net margin of 21.78%. The company had revenue of $773.90 million for the quarter, compared to analyst estimates of $787.72 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts expect that Albemarle will post 3.57 EPS for the current year.

In other news, EVP Karen G. Narwold sold 1,338 shares of the company’s stock in a transaction that occurred on Thursday, July 8th. The stock was sold at an average price of $165.69, for a total transaction of $221,693.22. Following the completion of the transaction, the executive vice president now directly owns 41,019 shares of the company’s stock, valued at approximately $6,796,438.11. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Karen G. Narwold sold 1,337 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $243.75, for a total value of $325,893.75. Following the transaction, the executive vice president now directly owns 19,533 shares of the company’s stock, valued at $4,761,168.75. The disclosure for this sale can be found here. Insiders sold 23,534 shares of company stock valued at $5,298,393 over the last three months. 0.63% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Grandview Asset Management LLC purchased a new stake in shares of Albemarle during the first quarter worth approximately $25,000. Knuff & Co LLC purchased a new stake in shares of Albemarle during the second quarter worth approximately $25,000. Bedel Financial Consulting Inc. purchased a new stake in shares of Albemarle during the second quarter worth approximately $27,000. TCI Wealth Advisors Inc. increased its position in shares of Albemarle by 43.0% during the second quarter. TCI Wealth Advisors Inc. now owns 173 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. Finally, E Fund Management Co. Ltd. purchased a new stake in Albemarle in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

About Albemarle

Albemarle Corp. engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts.

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