The stock of Albemarle Corporation (NYSE:ALB) reached all time high today, Nov, 30 and still has $91.52 target or 4.00% above today’s $88.00 share price. This indicates more upside for the $10.13B company. This technical setup was reported by Barchart.com. If the $91.52 PT is reached, the company will be worth $405.20 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 464,663 shares traded hands. Albemarle Corporation (NYSE:ALB) has risen 26.66% since April 27, 2016 and is uptrending. It has outperformed by 21.43% the S&P500.
Analysts await Albemarle Corporation (NYSE:ALB) to report earnings on February, 15. They expect $0.73 EPS, down 43.41% or $0.56 from last year’s $1.29 per share. ALB’s profit will be $84.03 million for 30.14 P/E if the $0.73 EPS becomes a reality. After $0.91 actual EPS reported by Albemarle Corporation for the previous quarter, Wall Street now forecasts -19.78% negative EPS growth.
Albemarle Corporation (NYSE:ALB) Ratings Coverage
Out of 11 analysts covering Albemarle Corporation (NYSE:ALB), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Albemarle Corporation has been the topic of 23 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Albemarle Corporation (NYSE:ALB) earned “Buy” rating by Suntrust Robinson on Friday, August 7. Citigroup upgraded the shares of ALB in a report on Monday, November 2 to “Buy” rating. The firm has “Buy” rating given on Tuesday, August 9 by Citigroup. The rating was maintained by Deutsche Bank on Thursday, August 20 with “Buy”. As per Thursday, May 12, the company rating was maintained by Jefferies. The rating was maintained by Citigroup on Monday, April 18 with “Buy”. The rating was maintained by Jefferies on Tuesday, December 29 with “Buy”. The firm has “Neutral” rating given on Thursday, March 10 by Seaport Global. The firm has “Buy” rating given on Friday, August 5 by Deutsche Bank. The firm has “Buy” rating given on Friday, August 7 by SunTrust.
According to Zacks Investment Research, “Albemarle Corporation is a major producer of fine and performance chemicals including polymer intermediates, cleaning product intermediates and additives, agricultural chemical intermediates, pharmaceutical intermediates, catalysts, brominated flame retardants, bromine chemicals and potassium and chlorine chemicals.”
Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 0.26, from 1.36 in 2016Q1. The ratio dropped, as 31 funds sold all Albemarle Corporation shares owned while 112 reduced positions. 80 funds bought stakes while 115 increased positions. They now own 96.46 million shares or 7.92% less from 104.76 million shares in 2016Q1.
Moreover, Hsbc Public Ltd Company has 0% invested in Albemarle Corporation (NYSE:ALB) for 20,657 shares. Frontier Mgmt Ltd Limited Liability Company reported 232,951 shares or 0.15% of all its holdings. Manufacturers Life Insur The reported 90,904 shares or 0.01% of all its holdings. Korea Investment last reported 0.04% of its portfolio in the stock. Alyeska Inv Grp Ltd Partnership holds 0.53% of its portfolio in Albemarle Corporation (NYSE:ALB) for 650,000 shares. Proshare Advisors Limited Liability Company, a Maryland-based fund reported 50,203 shares. Carroll Financial Associates has 0% invested in the company for 240 shares. Axel Mngmt Lc last reported 13,928 shares in the company. The Michigan-based World Asset Mgmt has invested 0.03% in Albemarle Corporation (NYSE:ALB). Broderick Brian C has 6,432 shares for 0.21% of their US portfolio. Norinchukin Bancorporation The holds 0.01% of its portfolio in Albemarle Corporation (NYSE:ALB) for 4,059 shares. Lpl Financial Ltd Company has 8,225 shares for 0.01% of their US portfolio. South Dakota Inv Council has invested 0.06% of its portfolio in Albemarle Corporation (NYSE:ALB). Columbus Circle Invsts has 0% invested in the company for 5,732 shares. Comerica Commercial Bank last reported 0.06% of its portfolio in the stock.
Insider Transactions: Since August 5, 2016, the stock had 0 insider purchases, and 2 sales for $4.51 million net activity. KISSAM LUTHER C IV sold $4.16M worth of stock. Another trade for 4,300 shares valued at $352,978 was made by SHERMAN JOHN JR on Friday, August 5.
More important recent Albemarle Corporation (NYSE:ALB) news were published by: Prnewswire.com which released: “Albemarle Corporation to present at Morgan Stanley Global Chemicals and …” on October 20, 2016, also Fool.com published article titled: “The World’s Largest Lithium Supplier, Albemarle Corporation, Delivers Solid Q3 …”, Prnewswire.com published: “Albemarle Corporation to host 2017 Investor Day in New York City” on November 04, 2016. More interesting news about Albemarle Corporation (NYSE:ALB) was released by: Prnewswire.com and their article: “Albemarle Corporation to release third quarter 2016 earnings results on …” with publication date: October 06, 2016.
ALB Company Profile
Albemarle Corporation, incorporated on November 24, 1993, is a developer, maker and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services. The Firm operates through three divisions: Performance Chemicals, Refining Solutions and Chemetall Surface Treatment.
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