Zacks Investment Research downgraded shares of Balchem (NASDAQ:BCPC) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Balchem Corporation provides state-of-the-art solutions and the finest quality products for a range of industries worldwide. Balchem Company consists of four business segments: Human Nutrition & Health; Animal Nutrition & Health; Specialty Products; and Industrial Products. The Human Nutrition & Health segment delivers customized food and beverage ingredient systems, as well as key nutrients into a variety of applications across the food, supplement and pharmaceutical industries. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets. Through Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries, and also provides chelated minerals to the micronutrient agricultural market. The Industrial Products segment manufactures and supplies certain derivative products into industrial applications. “
BCPC has been the subject of a number of other reports. HC Wainwright set a $101.00 target price on Balchem and gave the company a buy rating in a research report on Tuesday, February 5th. BidaskClub cut Balchem from a sell rating to a strong sell rating in a research report on Wednesday, November 28th. Finally, Seaport Global Securities started coverage on Balchem in a research report on Thursday, February 21st. They issued a neutral rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Balchem has an average rating of Hold and a consensus price target of $105.50.
Shares of NASDAQ BCPC opened at $93.23 on Tuesday. The stock has a market capitalization of $3.04 billion, a P/E ratio of 30.97 and a beta of 0.91. 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 has a 52-week low of $73.16 and a 52-week high of $117.79.
Balchem (NASDAQ:BCPC) last announced its earnings results on Thursday, February 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The firm had revenue of $163.50 million during the quarter, compared to analysts’ expectations of $161.42 million. Balchem had a return on equity of 14.51% and a net margin of 15.67%. Balchem’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts forecast that Balchem will post 3.02 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in BCPC. Norges Bank acquired a new stake in shares of Balchem in the 4th quarter valued at about $33,642,000. BlackRock Inc. lifted its position in Balchem by 5.6% during the 3rd quarter. BlackRock Inc. now owns 4,647,513 shares of the basic materials company’s stock worth $520,940,000 after acquiring an additional 245,174 shares during the period. Vanguard Group Inc lifted its position in Balchem by 2.6% during the 3rd quarter. Vanguard Group Inc now owns 3,252,944 shares of the basic materials company’s stock worth $364,622,000 after acquiring an additional 81,119 shares during the period. Vanguard Group Inc. lifted its position in Balchem by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,252,944 shares of the basic materials company’s stock worth $364,622,000 after acquiring an additional 81,119 shares during the period. Finally, Macquarie Group Ltd. lifted its position in Balchem by 16.8% during the 3rd quarter. Macquarie Group Ltd. now owns 385,069 shares of the basic materials company’s stock worth $43,162,000 after acquiring an additional 55,333 shares during the period. 85.85% of the stock is owned by hedge funds and other institutional investors.
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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