Albemarle (NYSE:ALB) PT Raised to $96.00

Albemarle (NYSE:ALB) had its price objective hoisted by equities researchers at Deutsche Bank from $72.00 to $96.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage presently has a “hold” rating on the specialty chemicals company’s stock. Deutsche Bank’s price objective indicates a potential upside of 1.79% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets raised their price objective on Albemarle to $115.00 and gave the company an “outperform” rating in a research note on Friday. SunTrust Banks cut Albemarle from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a research note on Friday, October 25th. JPMorgan Chase & Co. cut Albemarle from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $68.00 to $60.00 in a research note on Friday, November 8th. Bank of America cut Albemarle from a “buy” rating to an “underperform” rating in a research note on Monday, October 28th. Finally, Morgan Stanley dropped their price objective on Albemarle from $60.00 to $50.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $85.98.

Shares of NYSE:ALB opened at $94.31 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.82 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $80.92 and its two-hundred day simple moving average is $70.02. Albemarle has a 1-year low of $58.63 and a 1-year high of $99.40. The stock has a market cap of $9.47 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.57.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, February 19th. The specialty chemicals company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.02). Albemarle had a net margin of 14.86% and a return on equity of 16.27%. The company had revenue of $992.60 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $1.53 earnings per share. Albemarle’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Albemarle will post 4.78 earnings per share for the current fiscal year.

In other Albemarle news, CFO Scott Tozier sold 14,500 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.13, for a total value of $1,161,885.00. Following the transaction, the chief financial officer now owns 66,925 shares of the company’s stock, valued at $5,362,700.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of Albemarle by 4.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,817 shares of the specialty chemicals company’s stock valued at $352,000 after acquiring an additional 212 shares in the last quarter. Knuff & Co LLC raised its holdings in Albemarle by 102.4% in the 3rd quarter. Knuff & Co LLC now owns 3,440 shares of the specialty chemicals company’s stock valued at $239,000 after acquiring an additional 1,740 shares during the last quarter. WealthPLAN Partners LLC raised its holdings in Albemarle by 8.9% in the 3rd quarter. WealthPLAN Partners LLC now owns 102,757 shares of the specialty chemicals company’s stock valued at $6,698,000 after acquiring an additional 8,408 shares during the last quarter. CENTRAL TRUST Co raised its holdings in Albemarle by 21.8% in the 3rd quarter. CENTRAL TRUST Co now owns 1,118 shares of the specialty chemicals company’s stock valued at $77,000 after acquiring an additional 200 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Albemarle by 18.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 63,087 shares of the specialty chemicals company’s stock valued at $4,386,000 after acquiring an additional 9,830 shares during the last quarter. 90.57% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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The Fly

Analyst Recommendations for Albemarle (NYSE:ALB)

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