Sensient Technologies (NYSE:SXT) Downgraded by Zacks Investment Research

Sensient Technologies (NYSE:SXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employ advanced technologies to develop specialty food and beverage systems, cosmetic ingredients, pharmaceutical excipients, inkjet and specialty inks and colors, and other specialty and fine chemicals. Sensient uses advanced proprietary technologies to produce a broad range of innovative products. Sensient is a global developer, manufacturer and supplier of flavor and fragrance systems for the food, beverage, personal care and household-products industries. Sensient is a developer, manufacturer and supplier of colors for businesses worldwide. Sensient provides natural and synthetic color systems for use in foods, beverages and pharmaceuticals; colors and other ingredients for cosmetics, such as active ingredients, solubilizers and surface treated pigments; pharmaceutical excipients, such as colors, flavors and coatings; specialty inks; and technical colors for industrial applications. “

Separately, TheStreet raised shares of Sensient Technologies from a “c+” rating to a “b-” rating in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $75.00.

Shares of NYSE SXT opened at $65.23 on Thursday. The firm has a market cap of $2.81 billion, a PE ratio of 18.37 and a beta of 1.02. Sensient Technologies has a 12-month low of $51.93 and a 12-month high of $78.40. The company’s fifty day simple moving average is $68.97 and its 200 day simple moving average is $68.50. The company has a quick ratio of 1.80, a current ratio of 4.17 and a debt-to-equity ratio of 0.73.

Sensient Technologies (NYSE:SXT) last issued its earnings results on Friday, July 19th. The specialty chemicals company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). The company had revenue of $339.20 million for the quarter, compared to the consensus estimate of $361.20 million. Sensient Technologies had a return on equity of 16.15% and a net margin of 10.87%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 earnings per share. On average, equities analysts predict that Sensient Technologies will post 3.2 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Sensient Technologies by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,145,972 shares of the specialty chemicals company’s stock worth $64,003,000 after acquiring an additional 19,577 shares during the last quarter. Millennium Management LLC increased its position in Sensient Technologies by 171.5% during the fourth quarter. Millennium Management LLC now owns 17,846 shares of the specialty chemicals company’s stock worth $997,000 after buying an additional 11,274 shares during the last quarter. Norges Bank acquired a new position in Sensient Technologies during the fourth quarter worth $18,749,000. Retirement Systems of Alabama increased its position in Sensient Technologies by 0.4% during the first quarter. Retirement Systems of Alabama now owns 55,056 shares of the specialty chemicals company’s stock worth $3,732,000 after buying an additional 243 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Sensient Technologies by 24.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,119 shares of the specialty chemicals company’s stock worth $211,000 after buying an additional 617 shares during the last quarter. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

About Sensient Technologies

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and fragrances in North America, Europe, the Asia Pacific, and internationally. It operates through three segments: Flavors & Fragrances Group, Color Group, and Asia Pacific Group.

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