Balchem (NASDAQ:BCPC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The firm currently has a $155.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.55% from the company’s previous close.
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 topic of several other research reports. Stephens downgraded shares of Balchem from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $140.00 to $145.00 in a research report on Monday, August 2nd. They noted that the move was a valuation call. HC Wainwright upped their price objective on shares of Balchem from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, August 2nd.
Balchem (NASDAQ:BCPC) last released its earnings results on Thursday, July 29th. The basic materials company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.05. The company had revenue of $202.37 million for the quarter, compared to the consensus estimate of $191.00 million. Balchem had a net margin of 12.08% and a return on equity of 13.38%. As a group, equities research analysts forecast that Balchem will post 3.78 EPS for the current fiscal year.
In related news, CAO William A. Backus sold 12,248 shares of the business’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $134.04, for a total value of $1,641,721.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO William A. Backus sold 10,520 shares of the business’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $132.02, for a total transaction of $1,388,850.40. The disclosure for this sale can be found here. 1.54% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of BCPC. APG Asset Management N.V. raised its position in Balchem by 144.8% during the second quarter. APG Asset Management N.V. now owns 1,519,488 shares of the basic materials company’s stock worth $168,183,000 after acquiring an additional 898,811 shares during the period. Wasatch Advisors Inc. grew its holdings in shares of Balchem by 18.1% during the first quarter. Wasatch Advisors Inc. now owns 1,530,892 shares of the basic materials company’s stock worth $191,989,000 after buying an additional 234,926 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Balchem by 2.9% during the first quarter. BlackRock Inc. now owns 5,175,617 shares of the basic materials company’s stock worth $649,077,000 after buying an additional 146,430 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Balchem by 37.3% during the first quarter. Lord Abbett & CO. LLC now owns 385,461 shares of the basic materials company’s stock worth $48,341,000 after buying an additional 104,794 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Balchem by 55.2% during the second quarter. Bank of Montreal Can now owns 169,752 shares of the basic materials company’s stock worth $22,385,000 after buying an additional 60,361 shares in the last quarter. Institutional investors own 86.94% of the company’s stock.
Balchem Corp. provides marketing of specialty performance ingredients and products. It operates through the following segments: Human Nutrition and Health, Animal Nutrition and Health, Specialty Products and Industrial Products. The Human Nutrition and Health segment supplies ingredients in the food and beverage industry, providing customized solutions in powder, solid and liquid flavor delivery systems, spray dried emulsified powder systems, and cereal systems.
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