Balchem (NASDAQ:BCPC) Rating Lowered to “Hold” at StockNews.com

Balchem (NASDAQ:BCPC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Separately, HC Wainwright restated a “buy” rating and issued a $190.00 price objective on shares of Balchem in a research report on Monday.

Balchem Stock Performance

Shares of NASDAQ:BCPC traded up $8.02 during midday trading on Tuesday, reaching $173.59. The company’s stock had a trading volume of 221,830 shares, compared to its average volume of 130,512. The firm has a market capitalization of $5.64 billion, a PE ratio of 44.17, a P/E/G ratio of 4.41 and a beta of 0.69. The stock has a fifty day moving average of $162.01 and a 200 day moving average of $169.44. Balchem has a twelve month low of $137.69 and a twelve month high of $186.03. The company has a quick ratio of 1.16, a current ratio of 1.99 and a debt-to-equity ratio of 0.19.

Balchem (NASDAQ:BCPC) last released its quarterly earnings data 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). Balchem had a net margin of 13.47% and a return on equity of 11.37%. The company had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $239.96 million. On average, equities analysts expect that Balchem will post 4.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Balchem

Several institutional investors and hedge funds have recently modified their holdings of BCPC. FMR LLC increased its stake in shares of Balchem by 944.3% during the third quarter. FMR LLC now owns 497,495 shares of the basic materials company’s stock worth $87,559,000 after purchasing an additional 449,854 shares in the last quarter. Norges Bank purchased a new stake in Balchem during the 4th quarter worth approximately $70,165,000. Proficio Capital Partners LLC acquired a new position in shares of Balchem during the fourth quarter valued at approximately $23,628,000. Bank of America Corp DE lifted its position in shares of Balchem by 120.9% in the fourth quarter. Bank of America Corp DE now owns 156,562 shares of the basic materials company’s stock valued at $25,519,000 after acquiring an additional 85,692 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Balchem in the fourth quarter worth approximately $13,359,000. Hedge funds and other institutional investors own 87.91% of the company’s stock.

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.