Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price objective increased by Deutsche Bank Aktiengesellschaft from $185.00 to $195.00 in a report released on Tuesday,MarketScreener reports. They currently have a buy rating on the specialty chemicals company’s stock.

ALB has been the subject of several other research reports. Robert W. Baird set a $210.00 price target on shares of Albemarle and gave the company an “outperform” rating in a report on Wednesday, January 7th. Truist Financial raised Albemarle from a “hold” rating to a “buy” rating and boosted their target price for the company from $125.00 to $205.00 in a research note on Wednesday, January 21st. Scotiabank upgraded Albemarle from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $85.00 to $200.00 in a report on Monday, January 12th. UBS Group lifted their price objective on Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Bank of America upgraded Albemarle from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $167.00 to $190.00 in a research report on Tuesday. Three research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.32.

Albemarle Price Performance

Shares of ALB opened at $168.72 on Tuesday. The stock has a market cap of $19.88 billion, a P/E ratio of -29.34, a price-to-earnings-growth ratio of 2.40 and a beta of 1.44. Albemarle has a 1 year low of $49.43 and a 1 year high of $195.68. The stock’s 50-day moving average price is $159.73 and its two-hundred day moving average price is $117.07. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. PGGM Investments grew its position in shares of Albemarle by 10.8% during the 3rd quarter. PGGM Investments now owns 1,185,005 shares of the specialty chemicals company’s stock worth $96,080,000 after purchasing an additional 115,081 shares in the last quarter. Occidental Asset Management LLC acquired a new stake in Albemarle during the third quarter worth approximately $3,313,000. CWM LLC increased its stake in Albemarle by 14.8% during the 3rd quarter. CWM LLC now owns 165,074 shares of the specialty chemicals company’s stock worth $13,384,000 after acquiring an additional 21,257 shares during the period. AXQ Capital LP bought a new position in Albemarle during the 2nd quarter worth $267,000. Finally, Empower Advisory Group LLC raised its holdings in Albemarle by 11.4% in the 2nd quarter. Empower Advisory Group LLC now owns 866,575 shares of the specialty chemicals company’s stock valued at $54,308,000 after acquiring an additional 88,457 shares in the last quarter. Institutional investors 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.