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

Albemarle (NYSE:ALB) had its price target hoisted by equities research analysts at Deutsche Bank Aktiengesellschaft from $210.00 to $250.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 20.06% from the stock’s current price.

Other analysts have also issued research reports about the stock. HSBC lifted their price objective on shares of Albemarle from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Truist Financial boosted their price target on Albemarle from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley lifted their price objective on Albemarle from $170.00 to $189.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Mizuho raised their price target on shares of Albemarle from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Rothschild & Co Redburn cut shares of Albemarle from a “buy” rating to a “neutral” rating and set a $188.00 price target on the stock. in a report on Wednesday, April 22nd. Thirteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $194.13.

Albemarle Price Performance

ALB opened at $208.23 on Tuesday. The company has a 50 day moving average of $180.23 and a two-hundred day moving average of $156.00. Albemarle has a 52-week low of $53.70 and a 52-week high of $221.00. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. The company has a market cap of $24.56 billion, a P/E ratio of -60.18, a P/E/G ratio of 1.46 and a beta of 1.36.

Albemarle (NYSE:ALB) last announced 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. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company earned ($0.18) EPS. The firm’s revenue was up 32.7% on a year-over-year basis. On average, analysts expect that Albemarle will post 8.72 earnings per share for the current year.

Insider Activity

In related news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the completion of the transaction, the chief executive officer owned 134,628 shares in the company, valued at $22,995,808.68. The trade was a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Several hedge funds and other institutional investors have recently modified their holdings of ALB. Strategic Advocates LLC bought a new stake in Albemarle in the 3rd quarter valued at about $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in shares of Albemarle in the fourth quarter valued at approximately $26,000. BOKF NA raised its holdings in shares of Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 404 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of Albemarle during the fourth quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 483 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Albemarle

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.