Balchem (BCPC) Downgraded to Hold at Pivotal Research

Pivotal Research cut shares of Balchem (NASDAQ:BCPC) from a buy rating to a hold rating in a research report sent to investors on Monday, May 6th, BenzingaRatingsTable reports. They currently have $100.00 price target on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the company. HC Wainwright set a $101.00 price objective on Balchem and gave the stock a buy rating in a research report on Tuesday, February 5th. BidaskClub raised Balchem from a sell rating to a hold rating in a research report on Wednesday, February 20th. Zacks Investment Research cut Balchem from a buy rating to a hold rating in a research report on Monday, February 18th. Finally, Seaport Global Securities initiated coverage on Balchem in a research report on Thursday, February 21st. They issued a neutral rating on the stock. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $112.50.

Shares of NASDAQ:BCPC traded down $0.73 during mid-day trading on Monday, hitting $91.64. 63,032 shares of the company traded hands, compared to its average volume of 118,442. 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 has a 12-month low of $73.16 and a 12-month high of $117.79. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 30.45 and a beta of 1.03.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings data on Friday, May 3rd. The basic materials company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.04. Balchem had a return on equity of 14.11% and a net margin of 12.20%. The business had revenue of $157.00 million for the quarter, compared to analysts’ expectations of $165.57 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts expect that Balchem will post 2.97 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of BCPC. Norges Bank bought a new stake in shares of Balchem in the fourth quarter valued at $33,642,000. Vanguard Group Inc raised its stake in shares of Balchem by 2.6% in the third quarter. Vanguard Group Inc now owns 3,252,944 shares of the basic materials company’s stock valued at $364,622,000 after buying an additional 81,119 shares during the period. Vanguard Group Inc. raised its stake in shares of Balchem by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,252,944 shares of the basic materials company’s stock valued at $364,622,000 after buying an additional 81,119 shares during the period. Wasatch Advisors Inc. raised its stake in shares of Balchem by 6.3% in the first quarter. Wasatch Advisors Inc. now owns 1,232,837 shares of the basic materials company’s stock valued at $114,407,000 after buying an additional 73,439 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Balchem by 1.1% in the fourth quarter. BlackRock Inc. now owns 4,697,980 shares of the basic materials company’s stock valued at $368,087,000 after buying an additional 50,467 shares during the period. Hedge funds and other institutional investors own 87.17% 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.

Further Reading: Technical Analysis of Stocks and What It Means

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.