Oppenheimer analyst Colin Rusch maintained a Buy rating on Albemarle (ALB) today and set a price target of $95.00. The company’s shares closed last Thursday at $59.74.
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 19.7% and a 51.7% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as SolarEdge Technologies, Westport Fuel Systems, and Canadian Solar.
Currently, the analyst consensus on Albemarle is a Hold with an average price target of $75.23.
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Albemarle’s market cap is currently $6.16B and has a P/E ratio of 11.40. The company has a Price to Book ratio of 3.05.
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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.
