Balchem (NASDAQ:BCPC) Cut to Hold at BidaskClub

BidaskClub cut shares of Balchem (NASDAQ:BCPC) from a buy rating to a hold rating in a research note published on Thursday morning, BidAskClub reports.

Several other equities analysts also recently weighed in on the company. HC Wainwright reissued a positive rating and set a $110.00 target price (up previously from $95.00) on shares of Balchem in a research report on Wednesday. Zacks Investment Research raised Balchem from a sell rating to a hold rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Balchem currently has a consensus rating of Hold and a consensus price target of $107.67.

Shares of BCPC stock traded up $0.39 during trading hours on Thursday, reaching $103.44. 101,700 shares of the company traded hands, compared to its average volume of 114,443. The company has a market cap of $3.25 billion, a P/E ratio of 34.37 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.33 and a quick ratio of 2.63. The firm has a 50-day moving average price of $99.87 and a 200 day moving average price of $96.93. Balchem has a 12-month low of $73.16 and a 12-month high of $106.56.

Balchem (NASDAQ:BCPC) last released its earnings results on Tuesday, November 5th. The basic materials company reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.07. The firm had revenue of $158.60 million for the quarter, compared to the consensus estimate of $166.42 million. Balchem had a return on equity of 14.01% and a net margin of 12.43%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. Sell-side analysts predict that Balchem will post 3.06 EPS for the current year.

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In other Balchem news, VP David F. Ludwig sold 12,750 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $90.00, for a total value of $1,147,500.00. Following the transaction, the vice president now owns 21,038 shares of the company’s stock, valued at approximately $1,893,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.28% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BCPC. Scout Investments Inc. grew its position in Balchem by 65.2% in the 2nd quarter. Scout Investments Inc. now owns 94,096 shares of the basic materials company’s stock valued at $9,407,000 after acquiring an additional 37,133 shares during the last quarter. First National Bank of Omaha grew its position in Balchem by 2.7% in the 2nd quarter. First National Bank of Omaha now owns 17,732 shares of the basic materials company’s stock valued at $1,773,000 after acquiring an additional 460 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in Balchem in the 2nd quarter valued at $164,000. Capital Investment Services of America Inc. grew its position in Balchem by 0.9% in the 2nd quarter. Capital Investment Services of America Inc. now owns 121,562 shares of the basic materials company’s stock valued at $12,153,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Balchem by 1.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,690 shares of the basic materials company’s stock valued at $1,269,000 after acquiring an additional 200 shares during the last quarter. 86.33% of the stock is currently owned by institutional investors.

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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