Albemarle (NYSE:ALB) PT Raised to $270.00 at Deutsche Bank Aktiengesellschaft

Albemarle (NYSE:ALB) had its price target upped by equities researchers at Deutsche Bank Aktiengesellschaft from $245.00 to $270.00 in a report issued on Monday, The Fly reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 17.15% from the company’s current price.

Other analysts have also issued research reports about the company. Bank of America increased their target price on Albemarle from $121.00 to $140.00 and gave the company an “underperform” rating in a report on Friday, August 6th. They noted that the move was a valuation call. Cowen increased their target price on Albemarle from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, August 30th. Loop Capital increased their target price on Albemarle from $208.00 to $253.00 and gave the company a “buy” rating in a report on Monday, August 23rd. BMO Capital Markets increased their target price on Albemarle from $265.00 to $290.00 and gave the company an “outperform” rating in a report on Monday. Finally, Berenberg Bank upgraded Albemarle from a “sell” rating to a “buy” rating and increased their target price for the company from $115.00 to $280.00 in a report on Wednesday, September 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $199.95.

Shares of NYSE:ALB opened at $230.47 on Monday. Albemarle has a one year low of $79.06 and a one year high of $253.10. The stock has a fifty day moving average of $214.39 and a 200-day moving average of $178.41. The company has a market capitalization of $26.95 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 2.18.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Tuesday, August 3rd. The specialty chemicals company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The company had revenue of $773.90 million during the quarter, compared to the consensus estimate of $787.72 million. Albemarle had a return on equity of 8.92% and a net margin of 21.78%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, research analysts forecast that Albemarle will post 3.57 EPS for the current fiscal year.

In other Albemarle news, EVP Karen G. Narwold sold 1,337 shares of the stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $243.75, for a total transaction of $325,893.75. Following the transaction, the executive vice president now directly owns 19,533 shares of the company’s stock, valued at $4,761,168.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Karen G. Narwold sold 1,338 shares of the firm’s stock in a transaction dated Thursday, July 8th. The shares were sold at an average price of $165.69, for a total value of $221,693.22. Following the completion of the sale, the executive vice president now directly owns 41,019 shares in the company, valued at $6,796,438.11. The disclosure for this sale can be found here. Insiders have sold 23,534 shares of company stock worth $5,298,393 over the last three months. Company insiders own 0.63% of the company’s stock.

Large investors have recently modified their holdings of the company. Franklin Resources Inc. grew its position in shares of Albemarle by 26.5% in the first quarter. Franklin Resources Inc. now owns 7,258,584 shares of the specialty chemicals company’s stock valued at $1,060,553,000 after purchasing an additional 1,518,429 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Albemarle by 98.6% in the first quarter. Bank of Nova Scotia now owns 36,007 shares of the specialty chemicals company’s stock valued at $5,261,000 after purchasing an additional 17,874 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Albemarle by 185.4% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 128,195 shares of the specialty chemicals company’s stock valued at $18,731,000 after purchasing an additional 83,273 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of Albemarle in the first quarter valued at about $1,269,000. Finally, Man Group plc lifted its stake in shares of Albemarle by 20.3% in the first quarter. Man Group plc now owns 35,383 shares of the specialty chemicals company’s stock valued at $5,170,000 after buying an additional 5,975 shares during the period. 81.13% of the stock is currently owned by institutional investors.

About Albemarle

Albemarle Corp. engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts.

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