Deutsche Bank Aktiengesellschaft Increases Albemarle (NYSE:ALB) Price Target to $250.00

Albemarle (NYSE:ALB) had its price target boosted by investment analysts at Deutsche Bank Aktiengesellschaft from $210.00 to $250.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 20.06% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Citigroup increased their target price on shares of Albemarle from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer boosted their price target on Albemarle from $216.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. BMO Capital Markets raised their price objective on Albemarle from $145.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Berenberg Bank set a $153.00 price objective on Albemarle in a report on Monday, February 23rd. Finally, Royal Bank Of Canada boosted their target price on Albemarle from $245.00 to $253.00 and gave the stock an “outperform” rating in a research report on Monday. Thirteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $194.13.

Albemarle Price Performance

Albemarle stock opened at $208.23 on Tuesday. Albemarle has a one year low of $53.70 and a one year high of $221.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The business has a fifty day moving average of $180.23 and a two-hundred day moving average of $156.00. The company has a market cap of $24.56 billion, a P/E ratio of -60.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.36.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $1.71. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) EPS. As a group, analysts predict that Albemarle will post 8.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Albemarle

In other news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total value of $2,012,654.23. Following the completion of the transaction, the chief executive officer owned 134,628 shares of the company’s stock, valued at $22,995,808.68. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock valued at $229,000 after purchasing an additional 654 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Albemarle by 26.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock valued at $346,000 after buying an additional 996 shares during the period. United Services Automobile Association acquired a new position in shares of Albemarle during the 1st quarter valued at about $208,000. Empowered Funds LLC purchased a new position in shares of Albemarle during the 1st quarter worth about $411,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.