Albemarle Corporation (ALB) : Analyst Rating Update

Albemarle Corporation (ALB) : 5 brokerage houses believe that Albemarle Corporation (ALB) is a Strong Buy at current levels. 7 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Albemarle Corporation (ALB). Zacks Investment Research suggests a Strong Buy with a rank of 1.The median of all the 12 Wall Street Analysts endorse the stock as a Buy with a rating of 2.17.

Albemarle Corporation (ALB) : 11 Wall Street analysts covering Albemarle Corporation (ALB) believe that the average level the stock could reach for the short term is $75.64. The maximum price target given is $99 and the minimum target for short term is around $50, hence the standard deviation is calculated at $16.54.

Albemarle Corporation (NYSE:ALB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $79.39 and $78.81 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $80.96. The buying momentum continued till the end and the stock did not give up its gains. It closed at $80.86, notching a gain of 1.20% for the day. The total traded volume was 1,341,121 . The stock had closed at $79.90 on the previous day.

Also, Brokerage firm Citigroup maintains its rating on Albemarle Corporation (NYSE:ALB). As per the latest information, the brokerage house raises the price target to $89 per share from a prior target of $76. The shares have been rated Buy. The rating by the firm was issued on May 12, 2016. The company shares have rallied 50.56% from its 1 Year high price. On Jun 17, 2016, the shares registered one year high at $84.99 and the one year low was seen on Sep 14, 2015. The 50-Day Moving Average price is $79.48 and the 200 Day Moving Average price is recorded at $64.09.

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.

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