Balchem’s (BCPC) “Buy” Rating Reiterated at HC Wainwright

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

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

Balchem Stock Up 1.5 %

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 firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 44.01, a price-to-earnings-growth 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 stock’s 50 day moving average price is $162.20 and its two-hundred day moving average price is $169.39.

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

Institutional Trading of Balchem

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd increased its position in Balchem by 93.8% during the 4th quarter. Covestor Ltd now owns 157 shares of the basic materials company’s stock worth $26,000 after buying an additional 76 shares during the period. Westside Investment Management Inc. bought a new position in Balchem during the third quarter worth about $27,000. R Squared Ltd acquired a new stake in Balchem in the 4th quarter worth about $29,000. Federated Hermes Inc. bought a new stake in Balchem in the 4th quarter valued at about $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Balchem during the 3rd quarter worth approximately $35,000. 87.91% 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 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.