Albemarle Corp (ALB) Receives a Buy from RBC Capital

In a report released yesterday, Arun Viswanathan from RBC Capital maintained a Buy rating on Albemarle Corp (ALBResearch Report), with a price target of $83. The company’s shares closed last Monday at $68.45, close to its 52-week low of $63.10.

According to TipRanks.com, Viswanathan is a 4-star analyst with an average return of 5.2% and a 54.5% 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 a Strong Buy with an average price target of $94.13, representing a 39.7% upside. In a report issued on August 9, Oppenheimer also maintained a Buy rating on the stock with a $128 price target.

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The company has a one-year high of $108.74 and a one-year low of $63.10. Currently, Albemarle Corp has an average volume of 1.42M.

Based on the recent corporate insider activity of 29 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.

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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.