Balchem (BCPC) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Balchem (NASDAQ:BCPC) from a sell rating to a hold rating in a research note issued to investors on Thursday.

A number of other brokerages have also issued reports on BCPC. HC Wainwright began coverage on shares of Balchem in a research note on Tuesday, September 25th. They set a buy rating on the stock. ValuEngine upgraded shares of Balchem from a hold rating to a buy rating in a research note on Thursday, August 30th. Sidoti upgraded shares of Balchem from a neutral rating to a buy rating and set a $127.00 price target on the stock in a research note on Tuesday. Finally, Pivotal Research upped their price target on shares of Balchem from $85.00 to $95.00 and gave the company a hold rating in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $120.67.

Balchem stock traded down $0.87 during mid-day trading on Thursday, reaching $99.47. 4,462 shares of the company traded hands, compared to its average volume of 134,686. The company has a current ratio of 3.98, a quick ratio of 2.82 and a debt-to-equity ratio of 0.33. Balchem has a fifty-two week low of $70.23 and a fifty-two week high of $117.79. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 39.47 and a beta of 0.83.

Balchem (NASDAQ:BCPC) last issued its quarterly earnings results on Friday, August 3rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. Balchem had a net margin of 15.28% and a return on equity of 13.78%. The business had revenue of $163.70 million for the quarter, compared to analyst estimates of $163.20 million. The company’s revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Balchem will post 2.45 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of BCPC. BlackRock Inc. increased its stake in Balchem by 8.8% during the 2nd quarter. BlackRock Inc. now owns 4,402,339 shares of the basic materials company’s stock valued at $432,044,000 after purchasing an additional 356,208 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Balchem by 7.7% in the second quarter. Conestoga Capital Advisors LLC now owns 651,264 shares of the basic materials company’s stock worth $63,915,000 after acquiring an additional 46,740 shares during the period. Janus Henderson Group PLC increased its stake in shares of Balchem by 5.7% in the second quarter. Janus Henderson Group PLC now owns 417,067 shares of the basic materials company’s stock worth $40,931,000 after acquiring an additional 22,569 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in shares of Balchem in the second quarter worth $2,022,000. Finally, Tributary Capital Management LLC increased its stake in shares of Balchem by 9.7% in the second quarter. Tributary Capital Management LLC now owns 214,677 shares of the basic materials company’s stock worth $21,068,000 after acquiring an additional 18,985 shares during the period. Institutional investors and hedge funds own 88.21% 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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