Pivotal Research Upgrades Balchem (BCPC) to Buy

Pivotal Research upgraded shares of Balchem (NASDAQ:BCPC) from a hold rating to a buy rating in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $100.00 price objective on the basic materials company’s stock, up from their prior price objective of $95.00.

A number of other equities analysts have also weighed in on the stock. HC Wainwright initiated coverage on shares of Balchem in a research report on Tuesday, September 25th. They issued a buy rating for the company. Sidoti upgraded shares of Balchem from a neutral rating to a buy rating and set a $127.00 price target for the company in a research report on Tuesday, October 16th. BidaskClub lowered shares of Balchem from a strong-buy rating to a buy rating in a research report on Saturday, September 29th. Finally, ValuEngine upgraded shares of Balchem from a hold rating to a buy rating in a research report on Thursday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $122.33.

BCPC stock traded down $0.20 during midday trading on Tuesday, reaching $90.12. 114,515 shares of the company’s stock traded hands, compared to its average volume of 158,323. Balchem has a 52-week low of $70.23 and a 52-week high of $117.79. The stock has a market cap of $2.91 billion, a P/E ratio of 30.75 and a beta of 0.97. The company has a current ratio of 3.42, a quick ratio of 2.82 and a debt-to-equity ratio of 0.27.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.12. The business had revenue of $155.04 million during 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 was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. As a group, equities analysts forecast that Balchem will post 2.45 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bbva Compass Bancshares Inc. bought a new position in shares of Balchem in the third quarter worth approximately $226,000. Zeke Capital Advisors LLC bought a new position in shares of Balchem during the second quarter worth $203,000. Cubist Systematic Strategies LLC bought a new position in shares of Balchem during the second quarter worth $218,000. Granahan Investment Management Inc. MA bought a new position in shares of Balchem during the second quarter worth $224,000. Finally, Sigma Planning Corp bought a new position in shares of Balchem during the second quarter worth $229,000. Institutional investors and hedge funds 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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