The stock of Albemarle Corporation (NYSE:ALB) hit a new 52-week high and has $90.65 target or 3.00% above today’s $88.01 share price. The 7 months bullish chart indicates low risk for the $10.13 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $90.65 price target is reached, the company will be worth $303.90M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 113,294 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. $95 is the highest target while $52 is the lowest. The $75.78 average target is -13.90% below today’s ($88.01) stock price. Albemarle Corporation has been the topic of 23 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The rating was maintained by Deutsche Bank with “Buy” on Thursday, August 20. Suntrust Robinson maintained Albemarle Corporation (NYSE:ALB) rating on Thursday, May 12. Suntrust Robinson has “Buy” rating and $85 price target. The company was maintained on Wednesday, September 16 by Deutsche Bank. The stock has “Neutral” rating given by Seaport Global on Thursday, March 10. The stock of Albemarle Corporation (NYSE:ALB) has “Buy” rating given on Friday, August 7 by Suntrust Robinson. The stock of Albemarle Corporation (NYSE:ALB) has “Buy” rating given on Monday, April 18 by Citigroup. JP Morgan maintained Albemarle Corporation (NYSE:ALB) rating on Tuesday, February 23. JP Morgan has “Neutral” rating and $52 price target. The stock of Albemarle Corporation (NYSE:ALB) earned “Buy” rating by Jefferies on Thursday, May 12. The firm has “Buy” rating by Citigroup given on Tuesday, August 9. As per Wednesday, November 11, the company rating was initiated by UBS.
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 Q2 2016. Its down 0.26, from 1.36 in 2016Q1. The ratio worsened, 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.
Legal And General Grp Public Limited Com, a United Kingdom-based fund reported 116,688 shares. Massachusetts Service Ma last reported 1.11 million shares in the company. Panagora Asset accumulated 0.01% or 13,627 shares. State Of New Jersey Common Pension Fund D reported 178,500 shares or 0.06% of all its holdings. Pnc Fin Services Group Inc has 0% invested in the company for 17,813 shares. Employees Retirement Systems Of Texas accumulated 0.01% or 12,000 shares. California State Teachers Retirement Systems holds 0.04% of its portfolio in Albemarle Corporation (NYSE:ALB) for 243,740 shares. British Columbia Investment Corporation accumulated 96,389 shares or 0.07% of the stock. Commercial Bank Of Montreal Can last reported 0.01% of its portfolio in the stock. Bluecrest Cap Ltd holds 0.16% of its portfolio in Albemarle Corporation (NYSE:ALB) for 49,781 shares. Asset has 0.03% invested in the company for 11,352 shares. Eagle Asset Inc holds 0.01% or 19,864 shares in its portfolio. Keybank Association Oh reported 71,778 shares or 0.04% of all its holdings. Public Employees Retirement Association Of Colorado, a Colorado-based fund reported 25,489 shares. Alliancebernstein Lp holds 0.01% of its portfolio in Albemarle Corporation (NYSE:ALB) for 204,994 shares.
Insider Transactions: Since August 5, 2016, the stock had 0 insider purchases, and 2 insider sales for $4.51 million net activity. Another trade for 4,300 shares valued at $352,978 was sold by SHERMAN JOHN JR. $4.16 million worth of shares were sold by KISSAM LUTHER C IV on Wednesday, August 24.
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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