Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price objective dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $109.00 to $105.00 in a report released on Wednesday. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 37.13% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ALB. Truist Financial initiated coverage on Albemarle in a report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price target for the company. Evercore ISI lowered Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday, February 5th. Oppenheimer reduced their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Citigroup lowered their price objective on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Robert W. Baird upped their target price on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.50.

Albemarle Price Performance

Shares of Albemarle stock traded up $0.87 during midday trading on Wednesday, hitting $76.57. 3,392,958 shares of the company were exchanged, compared to its average volume of 2,373,626. The firm has a 50 day simple moving average of $90.52 and a 200-day simple moving average of $92.59. Albemarle has a 52 week low of $71.97 and a 52 week high of $143.19. The firm has a market cap of $9.00 billion, a P/E ratio of -4.57, a PEG ratio of 3.43 and a beta of 1.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a positive return on equity of 1.67% and a negative net margin of 28.80%. Research analysts forecast that Albemarle will post -1.55 earnings per share for the current year.

Insider Activity at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALB. Farther Finance Advisors LLC lifted its holdings in shares of Albemarle by 3.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock valued at $268,000 after purchasing an additional 102 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 132 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Albemarle by 48.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 136 shares in the last quarter. First Community Trust NA boosted its holdings in shares of Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 142 shares during the period. Finally, abrdn plc increased its position in shares of Albemarle by 0.3% during the third quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock worth $4,031,000 after acquiring an additional 146 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.