Balchem (NASDAQ:BCPC) issued its quarterly earnings results on Friday. The basic materials company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.30, MarketWatch Earnings reports. The business had revenue of $173.36 million for the quarter, compared to the consensus estimate of $161.35 million. Balchem had a net margin of 12.20% and a return on equity of 14.30%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share.
Balchem stock opened at $100.26 on Friday. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 40.27 and a beta of 0.61. Balchem has a 12 month low of $78.30 and a 12 month high of $113.93. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.77 and a quick ratio of 2.61. The stock’s 50-day moving average is $94.19 and its 200-day moving average is $97.50.
A number of research firms recently weighed in on BCPC. HC Wainwright lowered their target price on shares of Balchem from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. TheStreet raised shares of Balchem from a “c+” rating to a “b-” rating in a research report on Thursday, June 4th. Stephens started coverage on Balchem in a report on Thursday, July 9th. They issued an “equal weight” rating and a $100.00 target price on the stock. BidaskClub downgraded Balchem from a “hold” rating to a “sell” rating in a report on Tuesday, June 16th. Finally, Zacks Investment Research raised Balchem from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research report on Thursday, June 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $102.67.
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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