Albemarle (NYSE: ALB)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group in a report released on Monday. They currently have a $78.00 price target on the stock, down from their previous price target of $80.00.
The analysts wrote, “We are lowering 2013E $0.25 to $5.00, 2014E $0.20 to $5.95 and 2014E $0.20 to $6.80 to reflect slightly more cautious margin assumptions and a 1% reduction to our sales forecast for 2014E and 2015E. We still forecast a 13% EPS CAGR in 2013E-2015E based on a recovery in electronics and construction markets (20% of sales) and buybacks.”
ALB has been the subject of a number of other recent research reports. Analysts at Deutsche Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a research note to investors on Thursday, January 24th. They now have a $70.00 price target on the stock, up previously from $64.00. They noted that the move was a valuation call. Separately, analysts at Macquarie downgraded shares of Albemarle from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, January 24th. They now have a $70.00 price target on the stock. Finally, analysts at Citigroup downgraded shares of Albemarle from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, January 24th. They now have a $71.00 price target on the stock, down previously from $74.00.
Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Albemarle has an average rating of “Hold” and a consensus target price of $70.63.
Shares of Albemarle (NYSE: ALB) traded down 0.64% during mid-day trading on Monday, hitting $62.12. Albemarle has a 52 week low of $50.88 and a 52 week high of $67.75. The stock’s 50-day moving average is currently $63.76. The company has a market cap of $5.518 billion and a P/E ratio of 18.02.
Albemarle (NYSE: ALB) last issued its quarterly earnings data on Tuesday, January 22nd. The company reported $1.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.98 by $0.19. The company had revenue of $687.60 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts predict that Albemarle will post $5.04 earnings per share for the current fiscal year.
Albemarle Corporation (NYSE: ALB) is a developer, manufacturer and marketer of specialty chemicals, which meet customer needs across a range of end markets, including the petroleum refining, consumer electronics, plastics/packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food-safety and custom chemistry services markets.