Sensient Technologies (NYSE:SXT) Lowered to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of Sensient Technologies (NYSE:SXT) from a hold rating to a sell rating in a report published 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 upgraded shares of Sensient Technologies from a c+ rating to a b- rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $75.00.

Shares of SXT stock opened at $64.62 on Thursday. The company has a 50 day moving average of $68.78 and a 200-day moving average of $68.51. 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 has a 12-month low of $51.93 and a 12-month high of $78.40. The firm has a market cap of $2.77 billion, a P/E ratio of 18.20 and a beta of 1.02.

Sensient Technologies (NYSE:SXT) last issued its quarterly 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). Sensient Technologies had a return on equity of 16.15% and a net margin of 10.87%. The company had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $361.20 million. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, equities analysts expect that Sensient Technologies will post 3.2 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 2nd will be paid a $0.36 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.44 dividend on an annualized basis and a yield of 2.23%. Sensient Technologies’s dividend payout ratio is 40.56%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new position in shares of Sensient Technologies during the 2nd quarter valued at $58,000. Quadrant Capital Group LLC purchased a new position in shares of Sensient Technologies during the 1st quarter valued at $61,000. HM Payson & Co. purchased a new position in shares of Sensient Technologies during the 2nd quarter valued at $147,000. Point72 Hong Kong Ltd purchased a new position in shares of Sensient Technologies during the 2nd quarter valued at $172,000. Finally, Stanley Laman Group Ltd. purchased a new position in shares of Sensient Technologies during the 2nd quarter valued at $196,000. Hedge funds and other institutional investors own 97.41% of the company’s stock.

Sensient Technologies Company Profile

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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