Deutsche Bank Aktiengesellschaft Increases Albemarle (NYSE:ALB) Price Target to $320.00

Albemarle (NYSE:ALBGet Rating) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $290.00 to $320.00 in a note issued to investors on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 31.72% from the company’s previous close.

Several other equities research analysts also recently weighed in on ALB. Robert W. Baird cut their price objective on Albemarle from $245.00 to $228.00 in a report on Tuesday, February 22nd. TheStreet upgraded Albemarle from a “c+” rating to a “b” rating in a report on Wednesday, May 4th. BMO Capital Markets decreased their price target on shares of Albemarle from $300.00 to $280.00 in a research note on Friday, February 18th. Bank of America dropped their price target on Albemarle from $230.00 to $216.00 in a research note on Friday, February 18th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $290.00 price objective on shares of Albemarle in a research note on Monday, May 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $278.65.

ALB stock opened at $242.94 on Tuesday. Albemarle has a one year low of $154.23 and a one year high of $291.48. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 102.08, a price-to-earnings-growth ratio of 0.84 and a beta of 1.55. The company has a fifty day moving average price of $213.56 and a two-hundred day moving average price of $224.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.11 and a quick ratio of 0.63.

Albemarle (NYSE:ALBGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.65. Albemarle had a return on equity of 10.35% and a net margin of 7.76%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Albemarle’s revenue for the quarter was up 36.0% compared to the same quarter last year. Research analysts anticipate that Albemarle will post 11.11 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kozak & Associates Inc. bought a new stake in shares of Albemarle during the third quarter valued at about $27,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Albemarle in the 1st quarter valued at about $28,000. City State Bank purchased a new position in shares of Albemarle during the fourth quarter worth about $29,000. Covestor Ltd raised its stake in Albemarle by 51.2% in the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 44 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in Albemarle by 127.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

About Albemarle (Get Rating)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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