HC Wainwright set a $140.00 price objective on Balchem (NASDAQ:BCPC) in a report issued on Monday. The firm currently has a buy rating on the basic materials company’s stock.

“Valuation methodology, risks and uncertainties. We utilize a comparable universe-derived P/E multiple approach to determine our price target. Applying a roughly 46x P/E multiple to our 2019 diluted EPS of $3.03, we derive a price objective of $140 per share.”,” the firm’s analyst wrote.

Several other research firms have also recently commented on BCPC. Pivotal Research raised their price target on shares of Balchem from $85.00 to $95.00 and gave the stock a hold rating in a report on Friday, August 3rd. BidaskClub cut shares of Balchem from a buy rating to a hold rating in a report on Thursday, July 26th. Finally, ValuEngine upgraded shares of Balchem from a hold rating to a buy rating in a report on Thursday, August 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $120.67.

BCPC stock opened at $100.34 on Monday. The company has a quick ratio of 2.82, a current ratio of 3.98 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.25 billion, a P/E ratio of 35.62 and a beta of 0.83. Balchem has a 52 week low of $70.23 and a 52 week high of $117.79.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings results on Friday, August 3rd. The basic materials company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.75 by $0.01. The business had revenue of $163.70 million during the quarter, compared to analysts’ expectations of $163.20 million. Balchem had a net margin of 15.28% and a return on equity of 13.78%. Balchem’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts anticipate that Balchem will post 2.45 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BCPC. Wells Fargo & Company MN lifted its stake in Balchem by 5.6% in the first quarter. Wells Fargo & Company MN now owns 78,864 shares of the basic materials company’s stock valued at $6,447,000 after acquiring an additional 4,195 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Balchem by 20.6% in the first quarter. JPMorgan Chase & Co. now owns 73,196 shares of the basic materials company’s stock valued at $5,985,000 after acquiring an additional 12,487 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Balchem by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 733,707 shares of the basic materials company’s stock valued at $59,981,000 after acquiring an additional 2,775 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Balchem by 10.4% in the first quarter. Russell Investments Group Ltd. now owns 92,893 shares of the basic materials company’s stock valued at $7,594,000 after acquiring an additional 8,734 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Balchem by 3.1% in the first quarter. Principal Financial Group Inc. now owns 259,217 shares of the basic materials company’s stock valued at $21,190,000 after acquiring an additional 7,782 shares during the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.

Balchem Company Profile

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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