Pivotal Research Upgrades Balchem (BCPC) to Buy

Pivotal Research upgraded shares of Balchem (NASDAQ:BCPC) from a hold rating to a buy rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $100.00 price objective on the basic materials company’s stock, up from their previous price objective of $95.00.

Several other research analysts also recently issued reports on BCPC. BidaskClub downgraded shares of Balchem from a strong-buy rating to a buy rating in a research note on Friday, July 13th. ValuEngine downgraded shares of Balchem from a buy rating to a hold rating in a research note on Thursday, November 1st. HC Wainwright set a $140.00 target price on shares of Balchem and gave the stock a buy rating in a research note on Monday, October 15th. Finally, Sidoti upgraded shares of Balchem from a neutral rating to a buy rating and set a $127.00 target price on the stock in a research note on Tuesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Balchem presently has an average rating of Hold and a consensus target price of $122.33.

Shares of NASDAQ BCPC traded down $0.20 during midday trading on Tuesday, hitting $90.12. The stock had a trading volume of 114,515 shares, compared to its average volume of 158,323. The company has a market cap of $2.91 billion, a PE ratio of 30.75 and a beta of 0.97. Balchem has a 52 week low of $70.23 and a 52 week high of $117.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.82 and a current ratio of 3.42.

Balchem (NASDAQ:BCPC) last issued its earnings results on Tuesday, November 6th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. The firm had revenue of $155.04 million for the quarter, compared to the consensus estimate of $163.66 million. Balchem had a net margin of 15.67% and a return on equity of 14.51%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, analysts forecast that Balchem will post 2.45 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bbva Compass Bancshares Inc. purchased a new position in shares of Balchem during the third quarter valued at approximately $226,000. Zeke Capital Advisors LLC purchased a new position in shares of Balchem during the second quarter valued at approximately $203,000. Cubist Systematic Strategies LLC purchased a new position in shares of Balchem during the second quarter valued at approximately $218,000. Granahan Investment Management Inc. MA purchased a new position in shares of Balchem during the second quarter valued at approximately $224,000. Finally, Sigma Planning Corp purchased a new position in shares of Balchem during the second quarter valued at approximately $229,000. Hedge funds and other institutional investors own 88.48% of the company’s stock.

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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