Balchem (BCPC) Upgraded to “Buy” by Sidoti

Sidoti upgraded shares of Balchem (NASDAQ:BCPC) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have $127.00 price target on the basic materials company’s stock.

Several other analysts also recently weighed in on BCPC. BidaskClub downgraded shares of Balchem from a strong-buy rating to a buy rating in a research note on Friday, July 13th. Pivotal Research boosted their price target on shares of Balchem from $85.00 to $95.00 and gave the stock a hold rating in a research note on Friday, August 3rd. ValuEngine raised shares of Balchem from a hold rating to a buy rating in a research note on Thursday, August 30th. Finally, HC Wainwright initiated coverage on shares of Balchem in a research note on Tuesday, September 25th. They issued a buy rating for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Balchem currently has an average rating of Buy and a consensus price target of $120.67.

Shares of NASDAQ:BCPC opened at $99.02 on Tuesday. Balchem has a 52-week low of $70.23 and a 52-week high of $117.79. The firm has a market capitalization of $3.61 billion, a P/E ratio of 39.14 and a beta of 0.83. The company has a quick ratio of 2.82, a current ratio of 3.98 and a debt-to-equity ratio of 0.33.

Balchem (NASDAQ:BCPC) last announced its earnings results on Friday, August 3rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. The company had revenue of $163.70 million during the quarter, compared to analyst estimates of $163.20 million. Balchem had a net margin of 15.28% and a return on equity of 13.78%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Balchem will post 2.45 EPS for the current year.

A number of institutional investors have recently bought and sold shares of BCPC. Zeke Capital Advisors LLC bought a new stake in Balchem in the second quarter worth $203,000. Cubist Systematic Strategies LLC bought a new position in shares of Balchem during the second quarter valued at about $218,000. Granahan Investment Management Inc. MA bought a new position in shares of Balchem during the second quarter valued at about $224,000. Sigma Planning Corp bought a new position in shares of Balchem during the second quarter valued at about $229,000. Finally, CIBC Asset Management Inc bought a new position in shares of Balchem during the second quarter valued at about $240,000. 88.22% of the stock is owned by institutional investors and hedge funds.

About Balchem

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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