BidaskClub Upgrades Balchem (BCPC) to Sell

Balchem (NASDAQ:BCPC) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the stock. HC Wainwright began coverage on shares of Balchem in a research note on Tuesday, September 25th. They set a “buy” rating for the company. Sidoti upgraded shares of Balchem from a “neutral” rating to a “buy” rating and set a $127.00 target price for the company in a research note on Tuesday, October 16th. Pivotal Research upgraded shares of Balchem from a “hold” rating to a “buy” rating and lifted their target price for the company from $95.00 to $100.00 in a research note on Tuesday, November 6th. ValuEngine cut shares of Balchem from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research cut shares of Balchem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $109.33.

BCPC stock opened at $81.92 on Friday. Balchem has a twelve month low of $70.23 and a twelve month high of $117.79. The stock has a market cap of $2.57 billion, a P/E ratio of 32.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.33 and a current ratio of 3.42.

Balchem (NASDAQ:BCPC) last released its earnings results on Tuesday, November 6th. The basic materials company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. The business had revenue of $155.04 million for the quarter, compared to the consensus estimate of $163.66 million. Balchem had a return on equity of 14.51% and a net margin of 15.67%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. On average, sell-side analysts predict that Balchem will post 2.31 earnings per share for the current fiscal year.

In other news, Director Daniel E. Knutson bought 650 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was bought at an average price of $89.11 per share, for a total transaction of $57,921.50. Following the completion of the purchase, the director now owns 1,495 shares of the company’s stock, valued at approximately $133,219.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.02% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its position in Balchem by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 10,784 shares of the basic materials company’s stock worth $844,000 after purchasing an additional 210 shares during the last quarter. Martingale Asset Management L P raised its position in Balchem by 0.5% in the 3rd quarter. Martingale Asset Management L P now owns 63,614 shares of the basic materials company’s stock worth $7,131,000 after purchasing an additional 300 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Balchem by 13.2% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,690 shares of the basic materials company’s stock worth $862,000 after purchasing an additional 898 shares during the last quarter. Teachers Advisors LLC raised its position in Balchem by 1.7% in the 3rd quarter. Teachers Advisors LLC now owns 62,958 shares of the basic materials company’s stock worth $7,057,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Carillon Tower Advisers Inc. raised its position in Balchem by 2.0% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 56,558 shares of the basic materials company’s stock worth $6,340,000 after purchasing an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

About Balchem

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.

See Also: How do investors use RSI to grade stocks?

Receive News & Ratings for Balchem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Balchem and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply