Deutsche Bank Aktiengesellschaft Lowers Albemarle (NYSE:ALB) Price Target to $105.00

Albemarle (NYSE:ALB) had its price objective reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $109.00 to $105.00 in a report released on Wednesday. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 32.67% from the company’s current price.

A number of other research analysts have also commented on the stock. Clarkson Capital began coverage on shares of Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective for the company. Evercore ISI lowered shares of Albemarle from an “outperform” rating to an “inline” rating in a research report on Wednesday, February 5th. Citigroup dropped their price target on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday. Royal Bank of Canada dropped their price target on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, KeyCorp dropped their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Albemarle currently has an average rating of “Hold” and an average target price of $113.14.

Albemarle Stock Up 3.3 %

Shares of ALB opened at $79.15 on Wednesday. The company has a 50-day simple moving average of $89.56 and a 200-day simple moving average of $92.39. The firm has a market capitalization of $9.30 billion, a P/E ratio of -4.73, a P/E/G ratio of 3.43 and a beta of 1.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle has a 52 week low of $71.97 and a 52 week high of $143.19.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative net margin of 28.80% and a positive return on equity of 1.67%. On average, equities research analysts expect that Albemarle will post -1.55 earnings per share for the current year.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the transaction, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Albemarle

A number of hedge funds and other institutional investors have recently bought and sold shares of ALB. Quarry LP boosted its stake in Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 252 shares during the last quarter. Assetmark Inc. raised its holdings in Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 235 shares during the period. Trust Co. of Vermont raised its holdings in Albemarle by 606.5% in the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 279 shares during the period. Eastern Bank acquired a new stake in Albemarle in the third quarter worth $31,000. Finally, First Community Trust NA raised its holdings in Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 142 shares during the period. 92.87% of the stock is owned by institutional investors.

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.