BidaskClub Lowers Balchem (BCPC) to Hold

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

Several other brokerages have also weighed in on BCPC. Pivotal Research lowered shares of Balchem from a buy rating to a hold rating and set a $100.00 target price on the stock. in a research report on Monday, May 6th. HC Wainwright restated a buy rating and set a $110.00 target price on shares of Balchem in a research report on Monday, May 6th. Zacks Investment Research lowered shares of Balchem from a buy rating to a hold rating in a research report on Wednesday, May 8th. Finally, Seaport Global Securities assumed coverage on shares of Balchem in a research report on Thursday, February 21st. They set a neutral rating on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $112.50.

NASDAQ BCPC opened at $93.85 on Thursday. The stock has a market cap of $3.03 billion, a P/E ratio of 31.18 and a beta of 1.03. Balchem has a 52-week low of $73.16 and a 52-week high of $117.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.47 and a quick ratio of 2.43.

Balchem (NASDAQ:BCPC) last issued its earnings results on Friday, May 3rd. The basic materials company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.04. Balchem had a net margin of 12.20% and a return on equity of 14.11%. The company had revenue of $157.00 million for the quarter, compared to analyst estimates of $165.57 million. During the same period in the prior year, the business posted $0.76 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Balchem will post 2.97 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of BCPC. First Hawaiian Bank grew its position in Balchem by 68.0% during the first quarter. First Hawaiian Bank now owns 378 shares of the basic materials company’s stock worth $35,000 after buying an additional 153 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Balchem in the fourth quarter valued at approximately $39,000. Pearl River Capital LLC acquired a new stake in shares of Balchem in the fourth quarter valued at approximately $45,000. Ellis Investment Partners LLC acquired a new stake in shares of Balchem in the first quarter valued at approximately $49,000. Finally, Private Capital Group LLC grew its position in shares of Balchem by 116.7% in the first quarter. Private Capital Group LLC now owns 572 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 308 shares during the last quarter. Institutional investors own 86.55% of the company’s stock.

About Balchem

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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