Deutsche Bank Aktiengesellschaft Increases Albemarle (NYSE:ALB) Price Target to $140.00

Albemarle (NYSE:ALB) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $125.00 to $140.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 7.36% from the company’s previous close.

A number of other brokerages have also issued reports on ALB. Vertical Research lowered shares of Albemarle from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a research report on Friday, March 8th. Oppenheimer decreased their target price on shares of Albemarle from $191.00 to $188.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Royal Bank of Canada increased their target price on shares of Albemarle from $138.00 to $157.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and raised their price objective for the company from $137.00 to $156.00 in a research report on Wednesday, April 10th. Finally, KeyCorp reduced their price objective on shares of Albemarle from $178.00 to $159.00 and set an “overweight” rating for the company in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Albemarle has an average rating of “Hold” and a consensus target price of $172.05.

Albemarle Stock Down 0.9 %

Albemarle stock opened at $130.40 on Tuesday. The company has a 50-day simple moving average of $123.47 and a 200-day simple moving average of $125.93. The firm has a market capitalization of $15.33 billion, a P/E ratio of 47.42, a P/E/G ratio of 2.80 and a beta of 1.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84. Albemarle has a one year low of $106.69 and a one year high of $247.44.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The business’s revenue for the quarter was down 47.3% compared to the same quarter last year. During the same period in the previous year, the company earned $10.32 EPS. As a group, equities analysts expect that Albemarle will post 2.86 earnings per share for the current year.

Institutional Trading of Albemarle

A number of hedge funds have recently made changes to their positions in ALB. Capital Research Global Investors lifted its position in shares of Albemarle by 128.5% in the fourth quarter. Capital Research Global Investors now owns 7,076,357 shares of the specialty chemicals company’s stock worth $1,022,420,000 after purchasing an additional 3,979,885 shares in the last quarter. Norges Bank purchased a new stake in shares of Albemarle in the fourth quarter worth approximately $377,341,000. Franklin Resources Inc. lifted its position in shares of Albemarle by 47.4% in the fourth quarter. Franklin Resources Inc. now owns 5,185,734 shares of the specialty chemicals company’s stock worth $749,235,000 after purchasing an additional 1,667,164 shares in the last quarter. Capital International Investors lifted its position in shares of Albemarle by 31.7% in the fourth quarter. Capital International Investors now owns 5,800,219 shares of the specialty chemicals company’s stock worth $838,025,000 after purchasing an additional 1,396,624 shares in the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of Albemarle by 55.8% in the fourth quarter. Primecap Management Co. CA now owns 3,476,674 shares of the specialty chemicals company’s stock worth $502,310,000 after purchasing an additional 1,245,719 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.