Deutsche Bank Aktiengesellschaft Boosts Albemarle (NYSE:ALB) Price Target to $110.00

Albemarle (NYSE:ALB) had its price objective upped by equities researchers at Deutsche Bank Aktiengesellschaft from $95.00 to $110.00 in a research report issued on Tuesday,MarketScreener reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential downside of 0.27% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. UBS Group dropped their price target on shares of Albemarle from $89.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. KeyCorp reissued a “sector weight” rating on shares of Albemarle in a research note on Wednesday, July 30th. Mizuho boosted their target price on Albemarle from $78.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Royal Bank Of Canada upped their target price on Albemarle from $117.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Truist Financial increased their price target on Albemarle from $87.00 to $91.00 and gave the stock a “hold” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $97.71.

Albemarle Stock Performance

NYSE ALB opened at $110.30 on Tuesday. The company has a market cap of $12.98 billion, a P/E ratio of -11.83 and a beta of 1.70. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. The business’s 50 day moving average price is $89.57 and its 200-day moving average price is $75.37. Albemarle has a fifty-two week low of $49.43 and a fifty-two week high of $113.91.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.73. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.Albemarle’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the company earned ($1.55) earnings per share. Sell-side analysts predict that Albemarle will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Albemarle by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 14,672,272 shares of the specialty chemicals company’s stock worth $1,056,697,000 after acquiring an additional 77,773 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Albemarle by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,954,331 shares of the specialty chemicals company’s stock valued at $184,782,000 after purchasing an additional 59,104 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Albemarle by 48.5% in the 2nd quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock worth $179,870,000 after purchasing an additional 937,538 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Albemarle during the third quarter valued at approximately $138,723,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Albemarle by 28.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,538,706 shares of the specialty chemicals company’s stock valued at $110,814,000 after purchasing an additional 343,210 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

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.