Albemarle (NYSE:ALB) Price Target Raised to $195.00

Albemarle (NYSE:ALB) had its target price lifted by Deutsche Bank Aktiengesellschaft from $185.00 to $195.00 in a report issued on Tuesday morning,MarketScreener reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the company. HSBC raised Albemarle from a “hold” rating to a “buy” rating and set a $200.00 price target for the company in a report on Monday, January 19th. Robert W. Baird set a $210.00 target price on Albemarle and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Zacks Research raised Albemarle from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Jefferies Financial Group increased their price objective on shares of Albemarle from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Stephens reaffirmed an “outperform” rating on shares of Albemarle in a research note on Friday, December 19th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Albemarle presently has an average rating of “Moderate Buy” and a consensus price target of $167.52.

Albemarle Stock Down 1.7%

Shares of NYSE:ALB opened at $168.32 on Tuesday. The company’s fifty day moving average is $161.16 and its 200-day moving average is $117.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23. Albemarle has a 52 week low of $49.43 and a 52 week high of $195.68. The company has a market capitalization of $19.84 billion, a PE ratio of -29.27, a P/E/G ratio of 1.79 and a beta of 1.44.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.13). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned ($1.09) earnings per share. Equities research analysts predict that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

Several institutional investors have recently modified their holdings of the business. Manning & Napier Advisors LLC bought a new stake in shares of Albemarle during the third quarter worth approximately $138,723,000. Norges Bank bought a new stake in shares of Albemarle during the 4th quarter valued at $165,271,000. ProShare Advisors LLC raised its position in shares of Albemarle by 48.5% during the 2nd quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock valued at $179,870,000 after acquiring an additional 937,538 shares during the last quarter. Phoenix Financial Ltd. acquired a new position in shares of Albemarle in the 4th quarter valued at $130,415,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Albemarle by 4,338.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 738,430 shares of the specialty chemicals company’s stock worth $104,444,000 after purchasing an additional 721,793 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.