Albemarle (NYSE:ALB) Price Target Raised to $192.00 at Berenberg Bank

Key Points

• Berenberg Bank raised its price target on Albemarle from $153 to $192 while keeping a hold rating, implying about 11.8% upside from the prior close.
• Analyst sentiment is mixed but generally positive: recent updates included a mix of upgrades and target increases, and MarketBeat shows a consensus rating of Moderate Buy with an average target price of $203.04.
• Albemarle posted a strong quarterly beat, reporting EPS of $2.95 versus the $1.24 estimate and revenue of $1.43 billion, with sales up 32.7% year over year.

Albemarle (NYSE:ALB - Get Free Report) had its target price raised by stock analysts at Berenberg Bank from $153.00 to $192.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has a "hold" rating on the specialty chemicals company's stock. Berenberg Bank's price target points to a potential upside of 11.80% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Rothschild & Co Redburn lowered Albemarle from a "buy" rating to a "neutral" rating and set a $188.00 target price for the company. in a research report on Wednesday, April 22nd. Argus increased their price target on Albemarle from $185.00 to $230.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Albemarle from $210.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Vertical Research raised Albemarle from a "hold" rating to a "buy" rating and set a $224.00 target price on the stock in a research report on Tuesday, May 26th. Finally, Mizuho increased their target price on Albemarle from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Albemarle presently has an average rating of "Moderate Buy" and a consensus target price of $203.04.

Albemarle Price Performance

ALB stock opened at $171.73 on Tuesday. The company has a market capitalization of $20.25 billion, a P/E ratio of -50.36, a PEG ratio of 0.89 and a beta of 1.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. Albemarle has a 52-week low of $53.70 and a 52-week high of $221.00. The company has a fifty day moving average price of $183.93 and a 200-day moving average price of $164.66.

Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned ($0.18) earnings per share. Albemarle's quarterly revenue was up 32.7% on a year-over-year basis. As a group, equities analysts expect that Albemarle will post 12.39 EPS for the current year.

Insiders Place Their Bets

In other news, CEO J Kent Masters sold 16,393 shares of Albemarle stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the completion of the transaction, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.42% of the company's stock.

Institutional Trading of Albemarle

A number of hedge funds and other institutional investors have recently made changes to their positions in ALB. Evexia Wealth LLC grew its position in shares of Albemarle by 2.3% during the 1st quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company's stock valued at $387,000 after purchasing an additional 47 shares in the last quarter. Parallel Advisors LLC increased its stake 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 acquiring an additional 60 shares during the last quarter. Eaton Financial Holdings Company LLC increased its stake in Albemarle by 1.2% in the 4th quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company's stock worth $816,000 after acquiring an additional 66 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Albemarle by 2.3% in the 1st quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company's stock valued at $530,000 after acquiring an additional 66 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its holdings in shares of Albemarle by 1.9% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company's stock valued at $508,000 after acquiring an additional 67 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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.

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