Balchem (NASDAQ:BCPC) Trading Down 86.3% - Here's What Happened

Balchem Co. (NASDAQ:BCPC - Get Free Report)'s share price was down 86.3% during trading on Thursday . The company traded as low as $159.06 and last traded at $22.97. Approximately 82,664 shares were traded during trading, a decline of 33% from the average daily volume of 122,909 shares. The stock had previously closed at $167.35.

Wall Street Analysts Forecast Growth

BCPC has been the topic of several research reports. HC Wainwright restated a "buy" rating and issued a $190.00 target price on shares of Balchem in a research report on Monday, February 24th. Sidoti upgraded Balchem to a "hold" rating in a report on Tuesday, February 25th. Finally, StockNews.com lowered shares of Balchem from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.

Balchem Price Performance

The firm has a market capitalization of $4.90 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 4.41 and a beta of 0.75. The stock's 50 day simple moving average is $164.93 and its two-hundred day simple moving average is $168.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.16 and a current ratio of 1.99.

Balchem (NASDAQ:BCPC - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The basic materials company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.11 by ($0.08). The company had revenue of $240.00 million for the quarter, compared to analysts' expectations of $239.96 million. Balchem had a return on equity of 11.37% and a net margin of 13.47%. On average, sell-side analysts forecast that Balchem Co. will post 4.64 EPS for the current year.

Institutional Investors Weigh In On Balchem

A number of hedge funds have recently modified their holdings of BCPC. Benjamin Edwards Inc. boosted its holdings in Balchem by 18.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 2,647 shares of the basic materials company's stock valued at $466,000 after purchasing an additional 416 shares during the last quarter. HighTower Advisors LLC grew its position in Balchem by 15.3% in the third quarter. HighTower Advisors LLC now owns 2,229 shares of the basic materials company's stock worth $391,000 after acquiring an additional 295 shares during the period. Stifel Financial Corp increased its stake in Balchem by 26.2% during the third quarter. Stifel Financial Corp now owns 11,893 shares of the basic materials company's stock worth $2,093,000 after acquiring an additional 2,467 shares during the last quarter. State Street Corp raised its position in Balchem by 1.0% in the third quarter. State Street Corp now owns 1,234,226 shares of the basic materials company's stock valued at $217,224,000 after purchasing an additional 12,006 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of Balchem by 123.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,266 shares of the basic materials company's stock valued at $575,000 after purchasing an additional 1,802 shares during the last quarter. Hedge funds and other institutional investors own 87.91% of the company's stock.

Balchem Company Profile

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.