Bank of America Securities Keeps Their Buy Rating on Albemarle (ALB)

In a report released yesterday, Rock Hoffman from Bank of America Securities maintained a Buy rating on Albemarle, with a price target of $190.00. The company’s shares closed yesterday at $169.57.

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According to TipRanks, Hoffman is ranked #5036 out of 12075 analysts.

In addition to Bank of America Securities, Albemarle also received a Buy from Truist Financial’s Pete Osterland in a report issued on March 6. However, on March 7, TipRanks – xAI reiterated a Hold rating on Albemarle (NYSE: ALB).

Based on Albemarle’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.43 billion and a GAAP net loss of $414.18 million. In comparison, last year the company earned a revenue of $1.23 billion and had a net profit of $75.29 million

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALB in relation to earlier this year. Last month, Eric Norris, the CCO of ALB sold 5,692.00 shares for a total of $941,741.40.