Sensient Technologies (NYSE:SXT) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Sensient Technologies (NYSE:SXT) from a sell rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employ advanced technologies to develop specialty food and beverage systems, cosmetic ingredients, pharmaceutical excipients, inkjet and specialty inks and colors, and other specialty and fine chemicals. Sensient uses advanced proprietary technologies to produce a broad range of innovative products. Sensient is a global developer, manufacturer and supplier of flavor and fragrance systems for the food, beverage, personal care and household-products industries. Sensient is a developer, manufacturer and supplier of colors for businesses worldwide. Sensient provides natural and synthetic color systems for use in foods, beverages and pharmaceuticals; colors and other ingredients for cosmetics, such as active ingredients, solubilizers and surface treated pigments; pharmaceutical excipients, such as colors, flavors and coatings; specialty inks; and technical colors for industrial applications. “

Separately, TheStreet upgraded Sensient Technologies from a c+ rating to a b- rating in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sensient Technologies has an average rating of Buy and a consensus price target of $75.00.

NYSE SXT opened at $66.44 on Thursday. The company has a current ratio of 4.17, a quick ratio of 1.80 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $69.68 and its two-hundred day moving average is $68.50. Sensient Technologies has a 12-month low of $51.93 and a 12-month high of $78.40. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.72 and a beta of 1.02.

Sensient Technologies (NYSE:SXT) last released its earnings results on Friday, July 19th. The specialty chemicals company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). Sensient Technologies had a return on equity of 16.15% and a net margin of 10.87%. The business had revenue of $339.20 million for the quarter, compared to analyst estimates of $361.20 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities analysts forecast that Sensient Technologies will post 3.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, August 1st. Sensient Technologies’s dividend payout ratio is currently 40.56%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SXT. Norges Bank acquired a new stake in shares of Sensient Technologies in the 4th quarter worth approximately $18,749,000. Nordea Investment Management AB acquired a new stake in shares of Sensient Technologies in the 1st quarter worth approximately $13,668,000. BTIM Corp. acquired a new stake in shares of Sensient Technologies in the 2nd quarter worth approximately $14,690,000. FMR LLC grew its holdings in shares of Sensient Technologies by 16,513.9% in the 1st quarter. FMR LLC now owns 172,452 shares of the specialty chemicals company’s stock worth $11,691,000 after acquiring an additional 171,414 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Sensient Technologies in the 2nd quarter worth approximately $12,306,000. Institutional investors and hedge funds own 99.42% of the company’s stock.

Sensient Technologies Company Profile

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and fragrances in North America, Europe, the Asia Pacific, and internationally. It operates through three segments: Flavors & Fragrances Group, Color Group, and Asia Pacific Group.

See Also: Market Timing – The Benefits and the Danger

Get a free copy of the Zacks research report on Sensient Technologies (SXT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Sensient Technologies (NYSE:SXT)

Receive News & Ratings for Sensient Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sensient Technologies and related companies with MarketBeat.com's FREE daily email newsletter.