Sidoti Upgrades Balchem (NASDAQ:BCPC) to Hold

Balchem (NASDAQ:BCPC) was upgraded by stock analysts at Sidoti to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $190.00 price objective on shares of Balchem in a report on Monday. StockNews.com downgraded shares of Balchem from a “buy” rating to a “hold” rating in a report on Tuesday.

Balchem Trading Down 0.5 %

Shares of NASDAQ BCPC opened at $172.69 on Tuesday. The company has a market cap of $5.61 billion, a PE ratio of 43.94, a P/E/G ratio of 4.41 and a beta of 0.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.16 and a current ratio of 1.99. The firm’s 50 day moving average price is $162.13 and its 200-day moving average price is $169.46. Balchem has a 52-week low of $137.69 and a 52-week high of $186.03.

Balchem (NASDAQ:BCPC) last released its quarterly earnings data on Friday, February 21st. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.08). The business had revenue of $240.00 million during the quarter, compared to the consensus estimate of $239.96 million. Balchem had a net margin of 13.47% and a return on equity of 11.37%. On average, equities research analysts expect that Balchem will post 4.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Balchem

A number of institutional investors and hedge funds have recently modified their holdings of the company. Westside Investment Management Inc. bought a new position in Balchem in the third quarter valued at about $27,000. Covestor Ltd increased its position in shares of Balchem by 93.8% during the 4th quarter. Covestor Ltd now owns 157 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 76 shares during the last quarter. R Squared Ltd bought a new position in shares of Balchem in the 4th quarter worth approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Balchem in the third quarter worth approximately $35,000. Finally, Federated Hermes Inc. bought a new stake in Balchem during the fourth quarter valued at approximately $33,000. 87.91% 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 nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.