Zacks Investment Research Upgrades Sensient Technologies (SXT) to Buy

Zacks Investment Research upgraded shares of Sensient Technologies (NYSE:SXT) from a hold rating to a buy rating in a research report released on Friday. The brokerage currently has $79.00 price target on the specialty chemicals company’s stock.

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. “

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Other analysts have also recently issued research reports about the stock. Gabelli raised shares of Sensient Technologies from a hold rating to a buy rating and set a $94.00 price objective for the company in a research note on Monday, February 12th. TheStreet cut shares of Sensient Technologies from a b rating to a c+ rating in a research note on Thursday, February 8th. Finally, Off Wall Street began coverage on shares of Sensient Technologies in a report on Monday, December 18th. They issued a sell rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $87.83.

Shares of Sensient Technologies (NYSE:SXT) traded down $1.08 during midday trading on Friday, reaching $67.56. 400,019 shares of the company traded hands, compared to its average volume of 298,644. Sensient Technologies has a one year low of $65.60 and a one year high of $84.98. The stock has a market cap of $2,962.48, a PE ratio of 33.28, a PEG ratio of 2.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.25 and a current ratio of 3.39.

Sensient Technologies (NYSE:SXT) last announced its quarterly earnings data on Thursday, February 8th. The specialty chemicals company reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. Sensient Technologies had a net margin of 6.58% and a return on equity of 17.37%. The company had revenue of $328.87 million during the quarter. research analysts anticipate that Sensient Technologies will post 3.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Tuesday, February 6th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 5th. This represents a $1.32 annualized dividend and a yield of 1.95%. Sensient Technologies’s payout ratio is 65.02%.

In other Sensient Technologies news, Director Hank Brown sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $71.78, for a total value of $143,560.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gebhardt Deborah Mckeithan bought 1,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $72.10 per share, for a total transaction of $72,100.00. The disclosure for this purchase can be found here. Insiders own 0.94% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Elkfork Partners LLC acquired a new position in shares of Sensient Technologies in the 4th quarter worth approximately $129,000. Flinton Capital Management LLC acquired a new position in shares of Sensient Technologies in the 4th quarter worth approximately $164,000. Advisor Group Inc. lifted its holdings in shares of Sensient Technologies by 89.6% in the 4th quarter. Advisor Group Inc. now owns 2,326 shares of the specialty chemicals company’s stock worth $169,000 after acquiring an additional 1,099 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sensient Technologies by 44.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,556 shares of the specialty chemicals company’s stock worth $187,000 after acquiring an additional 782 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of Sensient Technologies in the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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Sensient Technologies Company Profile

Sensient Technologies Corporation is a manufacturer and marketer of colors, flavors and fragrances. The Company uses technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, specialty inks and colors, and other specialty and fine chemicals.

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