Balchem (BCPC) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Balchem (NASDAQ:BCPC) from a hold rating to a buy rating in a report issued on Friday, May 10th, BidAskClub reports.

Several other analysts also recently issued reports on BCPC. HC Wainwright set a $101.00 price objective on shares of Balchem and gave the stock a buy rating in a report on Tuesday, February 5th. Zacks Investment Research raised shares of Balchem from a sell rating to a hold rating and set a $94.00 price target for the company in a report on Monday, February 11th. Seaport Global Securities assumed coverage on shares of Balchem in a report on Thursday, February 21st. They issued a neutral rating for the company. Finally, Pivotal Research downgraded shares of Balchem from a buy rating to a hold rating and set a $100.00 price target for the company. in a report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $112.50.

Shares of BCPC traded down $1.62 during mid-day trading on Friday, hitting $94.83. 149,500 shares of the company’s stock were exchanged, compared to its average volume of 120,306. Balchem has a twelve month low of $73.16 and a twelve month high of $117.79. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 31.50 and a beta of 1.03. The company has a quick ratio of 2.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.22.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings data on Friday, May 3rd. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.04. The business had revenue of $157.00 million during the quarter, compared to the consensus estimate of $165.57 million. Balchem had a net margin of 12.20% and a return on equity of 14.11%. Balchem’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. As a group, research analysts predict that Balchem will post 3.09 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Balchem by 9.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,763 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 316 shares during the period. One Wealth Advisors LLC acquired a new stake in shares of Balchem during the 1st quarter worth about $57,000. Man Group plc acquired a new stake in shares of Balchem during the 1st quarter worth about $3,779,000. Macquarie Group Ltd. increased its position in shares of Balchem by 3.5% during the 1st quarter. Macquarie Group Ltd. now owns 412,436 shares of the basic materials company’s stock worth $38,274,000 after purchasing an additional 13,923 shares in the last quarter. Finally, SEI Investments Co increased its position in shares of Balchem by 140.5% during the 1st quarter. SEI Investments Co now owns 9,226 shares of the basic materials company’s stock worth $791,000 after purchasing an additional 5,390 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

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.

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