Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Albemarle (NYSE:ALB) Stock

Albemarle (NYSE:ALB) had its price target hoisted by equities researchers at Deutsche Bank Aktiengesellschaft from $185.00 to $195.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 15.06% from the stock’s current price.

ALB has been the topic of a number of other reports. Morgan Stanley raised their price target on Albemarle from $147.00 to $170.00 and gave the company an “equal weight” rating in a research note on Friday. BMO Capital Markets increased their price objective on Albemarle from $145.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Truist Financial raised Albemarle from a “hold” rating to a “buy” rating and raised their target price for the stock from $125.00 to $205.00 in a research report on Wednesday, January 21st. JPMorgan Chase & Co. decreased their target price on Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Wells Fargo & Company set a $165.00 price target on shares of Albemarle in a research note on Monday. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.32.

Albemarle Stock Up 1.9%

Shares of NYSE:ALB opened at $169.47 on Tuesday. Albemarle has a fifty-two week low of $49.43 and a fifty-two week high of $195.68. The firm’s 50 day moving average price is $158.94 and its 200 day moving average price is $116.36. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. The stock has a market cap of $19.97 billion, a price-to-earnings ratio of -29.47, a price-to-earnings-growth ratio of 2.40 and a beta of 1.44.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. 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 posted ($1.09) earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts predict that Albemarle will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albemarle

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in Albemarle by 2.5% in the 4th quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company’s stock worth $349,000 after purchasing an additional 60 shares in the last quarter. Eaton Financial Holdings Company LLC grew its holdings in shares of Albemarle by 1.2% in the fourth quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company’s stock valued at $816,000 after acquiring an additional 66 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its holdings in Albemarle by 1.9% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company’s stock worth $508,000 after acquiring an additional 67 shares during the period. Assetmark Inc. boosted its position in Albemarle by 10.9% in the fourth quarter. Assetmark Inc. now owns 782 shares of the specialty chemicals company’s stock worth $111,000 after purchasing an additional 77 shares during the last quarter. Finally, BNP Paribas increased its position in shares of Albemarle by 3.3% during the 4th quarter. BNP Paribas now owns 2,423 shares of the specialty chemicals company’s stock valued at $343,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors 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.