RBC Capital Reiterates a Buy Rating on Albemarle Corp

By Carrie Williams

RBC Capital analyst Arun Viswanathan reiterated a Buy rating on Albemarle Corp (NYSE: ALB) today and set a price target of $113. The company’s shares closed yesterday at $96.87.

According to TipRanks.com, Viswanathan is a 5-star analyst with an average return of 12.0% and a 62.2% success rate. Viswanathan covers the Consumer Goods sector, focusing on stocks such as Sherwin-Williams Company, Westlake Chemical Corp, and Axalta Coating Systems.

Currently, the analyst consensus on Albemarle Corp is Strong Buy and the average price target is $128.38, representing a 32.5% upside.

In a report issued on April 13, Citigroup also upgraded the stock to Buy with a $106 price target.

Albemarle Corp’s market cap is currently $10.71B and has a P/E ratio of 215.27. The company has a book value ratio of 2.9143.

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 and Advanced Materials, Bromine Specialties, and Refining Solutions. The Lithium and Advanced Materials segment include two product categories: Lithium and PCS. The Lithium business develops and manufactures a broad range of basic lithium compounds. The Performance Catalyst Solutions division operates in three product lines: organometallics, polymer catalysts and Curatives. The Bromine Specialties segment consists of bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Refining Solutions 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.