Albemarle (NYSE:ALB) Price Target Raised to $95.00 at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft raised Albemarle's price target from $74.00 to $95.00, suggesting a potential upside of 2.43% from the previous close.
• Albemarle's stock currently holds an average rating of "Hold," with a consensus price target of $91.41 from various analysts.
• Shares of Albemarle opened at $92.75, and the company reported revenue of $1.33 billion for the last quarter, surpassing analysts' expectations.

Albemarle (NYSE:ALB - Get Free Report) had its target price hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from $74.00 to $95.00 in a research report issued on Friday,MarketScreener reports. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 2.43% from the company's previous close.

Several other brokerages have also recently weighed in on ALB. HSBC boosted their price target on shares of Albemarle from $60.00 to $75.00 and gave the company a "hold" rating in a research report on Monday, September 22nd. Royal Bank Of Canada increased their price objective on Albemarle from $80.00 to $117.00 and gave the stock an "outperform" rating in a research report on Friday. KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Finally, Wells Fargo & Company upped their price objective on Albemarle from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Albemarle presently has an average rating of "Hold" and a consensus price target of $91.41.

Albemarle Stock Down 2.7%

Shares of NYSE ALB opened at $92.75 on Friday. The stock has a market cap of $10.91 billion, a PE ratio of -9.95 and a beta of 1.65. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. Albemarle has a 12-month low of $49.43 and a 12-month high of $113.91. The company has a 50-day moving average of $83.96 and a 200 day moving average of $70.10.

Albemarle (NYSE:ALB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.94. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the firm posted $0.04 EPS. The business's revenue for the quarter was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Albemarle will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Albemarle

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC grew its stake in Albemarle by 48.5% during the 2nd quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company's stock worth $179,870,000 after buying an additional 937,538 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Albemarle by 22,047.4% in the 2nd quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company's stock valued at $44,613,000 after acquiring an additional 710,589 shares during the period. FengHe Fund Management Pte. Ltd. acquired a new stake in Albemarle during the 2nd quarter worth $32,903,000. PGGM Investments grew its position in Albemarle by 90.4% during the 2nd quarter. PGGM Investments now owns 1,069,924 shares of the specialty chemicals company's stock worth $67,052,000 after purchasing an additional 507,975 shares during the last quarter. Finally, Norges Bank acquired a new position in Albemarle in the second quarter valued at $29,482,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

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.

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