November 10, 2019 at 4:29 pm

HC Wainwright Reiterates Positive Rating for Balchem (NASDAQ:BCPC)

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HC Wainwright reissued their positive rating on shares of Balchem (NASDAQ:BCPC) in a research note published on Wednesday, The Fly reports. HC Wainwright currently has a $110.00 price target on the basic materials company’s stock, up from their previous price target of $95.00.

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A number of other equities research analysts also recently weighed in on BCPC. Zacks Investment Research upgraded shares of Balchem from a sell rating to a hold rating in a research report on Monday, October 7th. BidaskClub upgraded shares of Balchem from a hold rating to a buy rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Balchem currently has a consensus rating of Hold and a consensus target price of $107.67.

Balchem stock traded up $0.39 during midday trading on Wednesday, reaching $103.44. 101,700 shares of the company’s stock were exchanged, compared to its average volume of 114,443. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 3.33. Balchem has a 52 week low of $73.16 and a 52 week high of $106.56. The stock’s 50-day simple moving average is $99.87 and its 200 day simple moving average is $96.93. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 34.37 and a beta of 1.20.

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

In other Balchem news, VP David F. Ludwig sold 12,750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $90.00, for a total transaction of $1,147,500.00. Following the completion of the transaction, the vice president now directly owns 21,038 shares in the company, valued at $1,893,420. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.28% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BCPC. Scout Investments Inc. grew its stake in shares of Balchem by 65.2% during the second quarter. Scout Investments Inc. now owns 94,096 shares of the basic materials company’s stock worth $9,407,000 after buying an additional 37,133 shares during the last quarter. First National Bank of Omaha grew its stake in shares of Balchem by 2.7% during the second quarter. First National Bank of Omaha now owns 17,732 shares of the basic materials company’s stock worth $1,773,000 after buying an additional 460 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Balchem during the second quarter worth $164,000. Capital Investment Services of America Inc. grew its stake in shares of Balchem by 0.9% during the second quarter. Capital Investment Services of America Inc. now owns 121,562 shares of the basic materials company’s stock worth $12,153,000 after buying an additional 1,100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Balchem by 1.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 12,690 shares of the basic materials company’s stock worth $1,269,000 after buying an additional 200 shares during the last quarter. 86.33% of the stock is currently owned by hedge funds and other 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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