Balchem (NASDAQ:BCPC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday, November 8th.
Other analysts also recently issued research reports about the stock. Sidoti raised shares of Balchem from a “neutral” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Tuesday, October 16th. HC Wainwright set a $140.00 price objective on shares of Balchem and gave the stock a “buy” rating in a research report on Monday, October 15th. ValuEngine raised shares of Balchem from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Finally, Pivotal Research raised shares of Balchem from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $100.00 in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $122.33.
Shares of BCPC stock traded up $0.15 during trading hours on Thursday, hitting $86.70. 146,276 shares of the company were exchanged, compared to its average volume of 121,184. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 34.27 and a beta of 0.97. Balchem has a fifty-two week low of $70.23 and a fifty-two week high of $117.79. The company has a quick ratio of 2.33, a current ratio of 3.42 and a debt-to-equity ratio of 0.27.
Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. The company had revenue of $155.04 million during the quarter, compared to the consensus estimate of $163.66 million. Balchem had a net margin of 15.67% and a return on equity of 14.51%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Analysts anticipate that Balchem will post 2.45 earnings per share for the current year.
In other Balchem news, Director Daniel E. Knutson purchased 650 shares of Balchem stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average price of $89.11 per share, with a total value of $57,921.50. Following the transaction, the director now owns 1,495 shares in the company, valued at approximately $133,219.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BCPC. Zeke Capital Advisors LLC purchased a new position in Balchem during the 2nd quarter worth $203,000. Hsbc Holdings PLC purchased a new position in Balchem during the 3rd quarter worth $212,000. Cubist Systematic Strategies LLC purchased a new position in Balchem during the 2nd quarter worth $218,000. Granahan Investment Management Inc. MA purchased a new position in Balchem during the 2nd quarter worth $224,000. Finally, Bbva Compass Bancshares Inc. purchased a new position in Balchem during the 3rd quarter worth $226,000. 87.31% of the stock is owned by institutional investors and hedge funds.
Balchem Company Profile
Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization, and industrial markets in the United States and internationally. The company's Human Nutrition & Health segment supplies ingredients in the food and beverage industry.
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