Jefferies & Co Reaffirms a Buy Rating on Albemarle Corporation (NYSE:ALB) and $120.00 Target

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Jefferies Co Analyst Rating Change Albemarle Corporation NYSE:ALB

Albemarle Corporation (NYSE:ALB) Rating Maintained

In analysts report revealed to investors on today, Jefferies & Co reaffirmed their Buy rating on Albemarle Corporation (NYSE:ALB)’s stock. The PT indicates a potential upside of 11.02 % from firm’s last stock close price.

NYSE:ALB is right now trading 1.92% higher at $108.09 as of 8:07 AM New York time. Albemarle Corporation’s stock is 0% in the past 200 days. It has underperformed the S&P 500 Index, which has added 6.00% in the same time period.

According to data compiled by Thomson Reuters, Albemarle Corporation (NYSE:ALB)’s stock is covered by 15 equity analysts across the Street, with 0 analysts giving it a Sell rating, 9 a Buy rating, while 8 consider it a Hold. The 12-month consensus target price for the stock is $69, which reflects an downside potential of 36.16% over the current price.

Institutional Ownership

Tide Point Capital Management Lp had the largest stake with ownership of 907,598 shares as of q2 2015 for 4.25% of the long stock exposure. Spf Beheer Bv is another very bullish active investment manager who is having 1.02 million shares of Albemarle Corporation or 4.13% of their long stock exposure. Moreover, Capital Management Corp Va have 3.5% of their long stock exposure invested in the company for 110,808 shares. The Illinois-based fund Anchor Bolt Capital Lp disclosed it had purchased a stake worth about 2.62% of the active investment manager’s stock portfolio in Albemarle Corporation. The Missouri-based fund Jag Capital Management Llc is also positive about the stock, possessing 997,299 shares or 2.44% of their long stock exposure.

Albemarle Corporation (NYSE:ALB) Profile

Albemarle CorpAlbemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Albemarle Corporation (NYSE:ALB) traded up 1.92% on 16 June, hitting $108.09. A total of 1.70M shares of the company’s stock traded hands. This is up from average of 988,240 shares. Albemarle Corporation has a 52 week low of $74.86 and a 52 week high of $116.64. The company has a market cap of $11.84B and a P/E ratio of 43.37.

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