Balchem (BCPC) Upgraded to Buy at Pivotal Research

Balchem (NASDAQ:BCPC) was upgraded by research analysts at Pivotal Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has a $100.00 price target on the basic materials company’s stock, up from their previous price target of $95.00. Pivotal Research’s price objective suggests a potential upside of 11.00% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. HC Wainwright assumed coverage on shares of Balchem in a research report on Tuesday, September 25th. They set a “buy” rating on the stock. ValuEngine raised shares of Balchem from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. BidaskClub lowered shares of Balchem from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 13th. Finally, Sidoti raised shares of Balchem from a “neutral” rating to a “buy” rating and set a $127.00 price objective on the stock in a research report on Tuesday, October 16th. One 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. Balchem currently has an average rating of “Hold” and a consensus price target of $122.33.

NASDAQ BCPC opened at $90.09 on Tuesday. The company has a market capitalization of $2.94 billion, a PE ratio of 35.61 and a beta of 0.97. The company has a quick ratio of 2.82, a current ratio of 3.42 and a debt-to-equity ratio of 0.27. Balchem has a 52-week low of $70.23 and a 52-week high of $117.79.

Balchem (NASDAQ:BCPC) last issued its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. The firm had revenue of $155.04 million for the quarter, compared to analyst estimates of $163.66 million. Balchem had a net margin of 15.67% and a return on equity of 14.51%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. Sell-side analysts predict that Balchem will post 2.45 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in BCPC. BlackRock Inc. grew its holdings in Balchem by 8.8% during the second quarter. BlackRock Inc. now owns 4,402,339 shares of the basic materials company’s stock valued at $432,044,000 after purchasing an additional 356,208 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in Balchem by 15.1% during the third quarter. Conestoga Capital Advisors LLC now owns 749,579 shares of the basic materials company’s stock valued at $84,020,000 after purchasing an additional 98,315 shares during the last quarter. First Trust Advisors LP grew its holdings in Balchem by 559.4% during the third quarter. First Trust Advisors LP now owns 62,888 shares of the basic materials company’s stock valued at $7,049,000 after purchasing an additional 53,351 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Balchem by 5.7% during the second quarter. Janus Henderson Group PLC now owns 417,067 shares of the basic materials company’s stock valued at $40,931,000 after purchasing an additional 22,569 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in Balchem during the second quarter valued at approximately $2,022,000. Institutional investors own 88.48% of the company’s stock.

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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