Berenberg Bank Reaffirms Their Hold Rating on Albemarle Corp (ALB)

By Jason Carr

In a report released yesterday, Sebastian Bray from Berenberg Bank maintained a Hold rating on Albemarle Corp (ALBResearch Report), with a price target of $75. The company’s shares closed last Monday at $70.87.

According to TipRanks.com, Bray is a 1-star analyst with an average return of -10.3% and a 33.3% success rate. Bray covers the Basic Materials sector, focusing on stocks such as Wacker Chemie AG, Nutrien Ltd, and LANXESS.

Albemarle Corp has an analyst consensus of Strong Buy, with a price target consensus of $94.13, a 39.7% upside from current levels. In a report issued on August 8, Nomura also assigned a Hold rating to the stock with a $71 price target.

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Albemarle Corp’s market cap is currently $7.14B and has a P/E ratio of 13.17. The company has a Price to Book ratio of 1.88.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALB in relation to earlier this year.

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.