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

Albemarle (NYSE:ALB) had its target price boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $95.00 to $110.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “hold” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 7.09% from the company’s previous close.

A number of other brokerages also recently issued reports on ALB. JPMorgan Chase & Co. raised their price target on shares of Albemarle from $60.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. KeyCorp reiterated a “sector weight” rating on shares of Albemarle in a research note on Wednesday, July 30th. HSBC boosted their price target on shares of Albemarle from $75.00 to $87.00 and gave the stock a “hold” rating in a report on Friday. Rothschild Redb upgraded Albemarle to a “strong-buy” rating in a research note on Friday, October 24th. Finally, Zacks Research lowered Albemarle from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $97.71.

Albemarle Price Performance

Shares of Albemarle stock traded down $0.86 during mid-day trading on Tuesday, reaching $102.72. 256,436 shares of the stock traded hands, compared to its average volume of 3,554,583. Albemarle has a fifty-two week low of $49.43 and a fifty-two week high of $113.91. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $88.49 and a 200 day moving average of $74.80. The stock has a market capitalization of $12.09 billion, a PE ratio of -10.98 and a beta of 1.70.

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

Hedge Funds Weigh In On Albemarle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALB. Hantz Financial Services Inc. raised its position in shares of Albemarle by 10,050.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 402 shares during the last quarter. Cromwell Holdings LLC raised its stake in shares of Albemarle by 36.8% in the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 111 shares during the period. National Pension Service lifted its position in shares of Albemarle by 74.5% during the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 193 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new position in Albemarle in the third quarter valued at about $40,000. Finally, Costello Asset Management INC acquired a new position in Albemarle during the 1st quarter worth $36,000. Institutional investors and hedge funds 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.