Sensient Technologies Corporation (NYSE:SXT)‘s stock had its “buy” rating reissued by research analysts at KeyCorp in a note issued to investors on Friday, November 3rd. They currently have a $90.00 target price on the specialty chemicals company’s stock. KeyCorp’s target price would indicate a potential upside of 21.08% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on SXT. Zacks Investment Research upgraded Sensient Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. Berenberg Bank started coverage on Sensient Technologies Corporation in a research note on Friday, September 22nd. They issued a “buy” rating and a $88.30 price target for the company. Finally, BidaskClub cut Sensient Technologies Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd.
Shares of Sensient Technologies Corporation (SXT) opened at $74.33 on Friday. Sensient Technologies Corporation has a 1-year low of $71.21 and a 1-year high of $84.98. The stock has a market capitalization of $3,278.52, a P/E ratio of 22.31, a PEG ratio of 2.57 and a beta of 1.08. The company has a current ratio of 3.59, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69.
Sensient Technologies Corporation (NYSE:SXT) last issued its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sensient Technologies Corporation had a return on equity of 17.34% and a net margin of 7.89%. The company had revenue of $353.52 million during the quarter. During the same quarter in the prior year, the firm earned $0.83 EPS. equities research analysts expect that Sensient Technologies Corporation will post 3.41 EPS for the current year.
Sensient Technologies Corporation announced that its board has authorized a stock repurchase program on Thursday, October 19th that allows the company to buyback 3,000,000 shares. This buyback authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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In other Sensient Technologies Corporation news, Director Essie Whitelaw sold 1,520 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $75.00, for a total transaction of $114,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fergus M. Clydesdale sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $76.00, for a total value of $152,000.00. The disclosure for this sale can be found here. 0.95% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SXT. Janus Henderson Group PLC lifted its stake in Sensient Technologies Corporation by 732.3% during the second quarter. Janus Henderson Group PLC now owns 3,126,256 shares of the specialty chemicals company’s stock worth $251,757,000 after purchasing an additional 2,750,649 shares during the last quarter. Atlanta Capital Management Co. L L C acquired a new position in shares of Sensient Technologies Corporation during the third quarter worth $21,336,000. Eagle Asset Management Inc. increased its holdings in shares of Sensient Technologies Corporation by 58.8% during the second quarter. Eagle Asset Management Inc. now owns 537,892 shares of the specialty chemicals company’s stock worth $43,316,000 after buying an additional 199,123 shares in the last quarter. MARSHALL WACE ASIA Ltd increased its holdings in shares of Sensient Technologies Corporation by 66.3% during the second quarter. MARSHALL WACE ASIA Ltd now owns 372,905 shares of the specialty chemicals company’s stock worth $30,205,000 after buying an additional 148,700 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Sensient Technologies Corporation by 18.4% during the third quarter. Wells Fargo & Company MN now owns 546,199 shares of the specialty chemicals company’s stock worth $42,014,000 after buying an additional 84,767 shares in the last quarter. Hedge funds and other institutional investors own 88.58% of the company’s stock.
About Sensient Technologies Corporation
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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