Balchem (BCPC) Downgraded by BidaskClub

BidaskClub cut shares of Balchem (NASDAQ:BCPC) from a buy rating to a hold rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the company. HC Wainwright started coverage on Balchem in a research note on Tuesday, September 25th. They set a buy rating for the company. ValuEngine upgraded Balchem from a hold rating to a buy rating in a research note on Thursday, August 30th. Finally, Pivotal Research lifted their price objective on Balchem from $85.00 to $95.00 and gave the company a hold rating in a research note on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Balchem has a consensus rating of Hold and an average price target of $95.00.

Shares of NASDAQ:BCPC opened at $105.03 on Friday. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 41.51 and a beta of 0.83. Balchem has a 12-month low of $70.23 and a 12-month high of $117.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.98 and a quick ratio of 2.82.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Friday, August 3rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. The business had revenue of $163.70 million during the quarter, compared to analysts’ expectations of $163.20 million. Balchem had a return on equity of 13.78% and a net margin of 15.28%. The business’s revenue was up 11.3% compared to the same quarter last year. As a group, research analysts anticipate that Balchem will post 2.45 EPS for the current year.

Several hedge funds have recently bought and sold shares of BCPC. BlackRock Inc. raised its stake in shares of Balchem by 8.8% in the second quarter. BlackRock Inc. now owns 4,402,339 shares of the basic materials company’s stock worth $432,044,000 after purchasing an additional 356,208 shares during the last quarter. Carillon Tower Advisers Inc. raised its stake in shares of Balchem by 656.3% in the first quarter. Carillon Tower Advisers Inc. now owns 55,180 shares of the basic materials company’s stock worth $4,510,000 after purchasing an additional 47,884 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Balchem by 7.7% in the second quarter. Conestoga Capital Advisors LLC now owns 651,264 shares of the basic materials company’s stock worth $63,915,000 after purchasing an additional 46,740 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Balchem by 5.7% in the second quarter. Janus Henderson Group PLC now owns 417,067 shares of the basic materials company’s stock worth $40,931,000 after purchasing an additional 22,569 shares during the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Balchem in the second quarter worth $2,022,000. Hedge funds and other institutional investors own 88.22% 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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