HC Wainwright Reaffirms Buy Rating for Balchem (NASDAQ:BCPC)

Balchem (NASDAQ:BCPC)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $190.00 price target on the basic materials company’s stock. HC Wainwright’s target price would indicate a potential upside of 16.05% from the company’s previous close.

Separately, StockNews.com raised Balchem from a “hold” rating to a “buy” rating in a research note on Monday, October 28th.

Balchem Trading Up 1.5 %

Shares of NASDAQ BCPC opened at $163.72 on Monday. Balchem has a twelve month low of $137.69 and a twelve month high of $186.03. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 44.01, a P/E/G ratio of 4.34 and a beta of 0.69. The company has a quick ratio of 1.90, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $162.20 and its 200-day moving average is $169.39.

Balchem (NASDAQ:BCPC) last posted its earnings results on Friday, February 21st. The basic materials company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.08). Balchem had a return on equity of 10.99% and a net margin of 12.90%. The business had revenue of $240.00 million for the quarter, compared to the consensus estimate of $239.96 million. Equities research analysts predict that Balchem will post 4.01 EPS for the current year.

Institutional Trading of Balchem

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Balchem by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 3,961,487 shares of the basic materials company’s stock worth $645,703,000 after buying an additional 42,693 shares in the last quarter. State Street Corp grew its stake in shares of Balchem by 1.0% during the 3rd quarter. State Street Corp now owns 1,234,226 shares of the basic materials company’s stock worth $217,224,000 after acquiring an additional 12,006 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Balchem by 1.8% in the third quarter. Conestoga Capital Advisors LLC now owns 1,175,569 shares of the basic materials company’s stock valued at $206,900,000 after purchasing an additional 20,360 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Balchem by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 938,504 shares of the basic materials company’s stock worth $153,000,000 after purchasing an additional 9,600 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its holdings in Balchem by 5.1% during the fourth quarter. Geneva Capital Management LLC now owns 819,746 shares of the basic materials company’s stock worth $133,615,000 after purchasing an additional 39,877 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

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.