In a report released today, Vincent Andrews from Morgan Stanley maintained a Sell rating on Albemarle (ALB), with a price target of $40.00. The company’s shares closed last Monday at $54.82, close to its 52-week low of $48.90.
According to TipRanks.com, Andrews is a 2-star analyst with an average return of -2.9% and a 61.1% success rate. Andrews covers the Consumer Goods sector, focusing on stocks such as Air Products and Chemicals, Archer Daniels Midland, and Axalta Coating Systems.
Albemarle has an analyst consensus of Hold, with a price target consensus of $82.69.
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Based on Albemarle’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $993 million and net profit of $90.39 million. In comparison, last year the company earned revenue of $922 million and had a net profit of $130 million.
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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.
