Balchem (NASDAQ:BCPC) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Balchem (NASDAQ:BCPC) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Zacks.com reports. The brokerage currently has $155.00 price objective on the basic materials company’s stock.

According to Zacks, “Balchem Corporation provides state-of-the-art solutions and the finest quality products for a range of industries worldwide. Balchem Company consists of four business segments: Human Nutrition & Health; Animal Nutrition & Health; Specialty Products; and Industrial Products. The Human Nutrition & Health segment delivers customized food and beverage ingredient systems, as well as key nutrients into a variety of applications across the food, supplement and pharmaceutical industries. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets. Through Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries, and also provides chelated minerals to the micronutrient agricultural market. The Industrial Products segment manufactures and supplies certain derivative products into industrial applications. “

A number of other research analysts have also weighed in on BCPC. HC Wainwright raised their price target on shares of Balchem from $145.00 to $160.00 and gave the company a buy rating in a research note on Monday, August 2nd. Stephens lowered shares of Balchem from an overweight rating to an equal weight rating and raised their price target for the company from $140.00 to $145.00 in a research note on Monday, August 2nd. They noted that the move was a valuation call.

BCPC stock opened at $139.47 on Monday. The company’s 50-day simple moving average is $133.64 and its 200-day simple moving average is $129.90. The company has a quick ratio of 2.07, a current ratio of 2.85 and a debt-to-equity ratio of 0.16. Balchem has a 52-week low of $92.60 and a 52-week high of $142.46. The firm has a market cap of $4.51 billion, a P/E ratio of 50.53 and a beta of 0.58.

Balchem (NASDAQ:BCPC) last posted its earnings results on Thursday, July 29th. The basic materials company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. Balchem had a net margin of 12.08% and a return on equity of 13.38%. The business had revenue of $202.37 million for the quarter, compared to analyst estimates of $191.00 million. On average, analysts anticipate that Balchem will post 3.78 earnings per share for the current fiscal year.

In other Balchem news, CAO William A. Backus sold 10,520 shares of Balchem stock in a transaction on Monday, August 9th. The stock was sold at an average price of $132.02, for a total value of $1,388,850.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO William A. Backus sold 12,248 shares of the firm’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $134.04, for a total value of $1,641,721.92. The disclosure for this sale can be found here. Company insiders own 1.54% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Balchem in the 2nd quarter valued at approximately $40,000. Abundance Wealth Counselors purchased a new stake in shares of Balchem in the 1st quarter valued at approximately $79,000. Archer Investment Corp raised its stake in shares of Balchem by 40.4% in the 2nd quarter. Archer Investment Corp now owns 626 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 180 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Balchem by 14.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the basic materials company’s stock worth $87,000 after buying an additional 83 shares during the period. Finally, Liberty Wealth Management LLC increased its stake in Balchem by 12,980.4% during the 2nd quarter. Liberty Wealth Management LLC now owns 12,034 shares of the basic materials company’s stock worth $92,000 after buying an additional 11,942 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Balchem Company Profile

Balchem Corp. provides marketing of specialty performance ingredients and products. It operates through the following segments: Human Nutrition and Health, Animal Nutrition and Health, Specialty Products and Industrial Products. The Human Nutrition and Health segment supplies ingredients in the food and beverage industry, providing customized solutions in powder, solid and liquid flavor delivery systems, spray dried emulsified powder systems, and cereal systems.

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