KeyBanc analyst Aleksey Yefremov maintained a Sell rating on Albemarle (ALB) today and set a price target of $101.00. The company’s shares closed last Thursday at $182.37, close to its 52-week high of $187.25.
According to TipRanks.com, Yefremov is a 4-star analyst with an average return of 16.6% and a 67.5% success rate. Yefremov covers the Basic Materials sector, focusing on stocks such as Axalta Coating Systems, Pq Group Holdings, and Eastman Chemical.
The word on The Street in general, suggests a Hold analyst consensus rating for Albemarle with a $120.23 average price target, a -33.4% downside from current levels. In a report issued on January 5, Vertical Research also downgraded the stock to Sell.
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Albemarle’s market cap is currently $19.41B and has a P/E ratio of 50.10. The company has a Price to Book ratio of 8.79.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALB in relation to earlier this year. Most recently, in November 2020, Luther Kissam, a Director at ALB sold 164,191 shares for a total of $20,796,356.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Albemarle Corp. is a specialty company, which engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts. The Lithium segment engages in developing and manufacture of basic lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties and reagents. The Bromine Specialties segment consists of bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Catalysts segment contain two product lines: clean fuels technologies, which is primarily composed of hydro processing catalysts, and heavy oil upgrading that comprises of fluidized catalytic cracking catalysts and additives. The company was founded in 1993 and is headquartered in Charlotte, NC.
