Albemarle Corporation (ALB) was Reiterated by Deutsche Bank to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 94 from a previous price target of $84 . Deutsche Bank advised their investors in a research report released on Jun 20, 2016.
Many Wall Street Analysts have commented on Albemarle Corporation. Company shares were Reiterated by Deutsche Bank on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 84 from a previous price target of $72 .Company shares were Reiterated by Deutsche Bank on Apr 1, 2016 to “Buy”, Firm has raised the Price Target to $ 72 from a previous price target of $62 .
On the company’s financial health, Albemarle Corporation reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.86. The company had revenue of $865.40 million for the quarter, compared to analysts expectations of $814.81 million. The company’s revenue was down -2.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.17 EPS.
Albemarle Corporation opened for trading at $83.19 and hit $84.99 on the upside on Friday, eventually ending the session at $82.8, with a gain of 3.51% or 2.81 points. The heightened volatility saw the trading volume jump to 35,31,123 shares. Company has a market cap of $9,298 M.
In a different news, on May 13, 2016, Matthew Juneau (Sr VP, Corp Strategy & IR) sold 13,174 shares at $75.34 per share price. According to the SEC, on May 13, 2016, John Jr Sherman (director) sold 2,025 shares at $75.73 per share price. On May 13, 2016, Donald J. Jr. Labauve (VP, Corporate Controller & CAO) sold 3,564 shares at $75.35 per share price, according to the Form-4 filing with the securities and exchange commission.
Albemarle Corporation (Albemarle) is a developer manufacturer and marketer of specialty chemicals 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. The Company operates through two segments: Performance Chemicals and Catalyst Solutions. As of December 31 2014 the Performance Chemicals segment includes the Fire Safety Solutions Specialty Chemicals and Fine Chemistry Services product categories. As of December 31 2014 the Catalyst Solutions segment includes the Refinery Catalyst Solutions and Performance Catalyst Solutions product categories.