Zacks Investment Research upgraded shares of Sensient Technologies (NYSE:SXT) from a hold rating to a buy rating in a research report released on Thursday morning. The firm currently has $78.00 target price on the specialty chemicals company’s stock.
According to Zacks, “Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employ advanced technologies to develop specialty food and beverage systems, cosmetic ingredients, pharmaceutical excipients, inkjet and specialty inks and colors, and other specialty and fine chemicals. Sensient uses advanced proprietary technologies to produce a broad range of innovative products. Sensient is a global developer, manufacturer and supplier of flavor and fragrance systems for the food, beverage, personal care and household-products industries. Sensient is a developer, manufacturer and supplier of colors for businesses worldwide. Sensient provides natural and synthetic color systems for use in foods, beverages and pharmaceuticals; colors and other ingredients for cosmetics, such as active ingredients, solubilizers and surface treated pigments; pharmaceutical excipients, such as colors, flavors and coatings; specialty inks; and technical colors for industrial applications. “
SXT has been the topic of a number of other research reports. Off Wall Street started coverage on shares of Sensient Technologies in a research note on Monday, December 18th. They issued a sell rating on the stock. Gabelli raised shares of Sensient Technologies from a hold rating to a buy rating and set a $94.00 price target on the stock in a report on Monday, February 12th. Finally, TheStreet downgraded shares of Sensient Technologies from a b rating to a c+ rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $87.58.
NYSE:SXT opened at $68.93 on Thursday. The firm has a market capitalization of $2,997.43, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.93. Sensient Technologies has a 1-year low of $65.60 and a 1-year high of $84.98. The company has a current ratio of 3.39, a quick ratio of 1.25 and a debt-to-equity ratio of 0.71.
Sensient Technologies (NYSE:SXT) last released its quarterly earnings data on Thursday, February 8th. The specialty chemicals company reported $0.84 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.84. The firm had revenue of $328.87 million for the quarter. Sensient Technologies had a net margin of 6.58% and a return on equity of 17.37%. research analysts predict that Sensient Technologies will post 3.83 EPS for the current fiscal year.
In other news, Director Gebhardt Deborah Mckeithan purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $72.10 per share, with a total value of $72,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hank Brown sold 2,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $71.78, for a total transaction of $143,560.00. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SXT. Ameriprise Financial Inc. boosted its holdings in Sensient Technologies by 0.7% during the third quarter. Ameriprise Financial Inc. now owns 130,512 shares of the specialty chemicals company’s stock worth $10,040,000 after buying an additional 866 shares in the last quarter. Legal & General Group Plc boosted its holdings in Sensient Technologies by 9.7% during the third quarter. Legal & General Group Plc now owns 52,879 shares of the specialty chemicals company’s stock worth $4,068,000 after buying an additional 4,675 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Sensient Technologies by 5.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 304,694 shares of the specialty chemicals company’s stock worth $23,438,000 after buying an additional 14,917 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sensient Technologies by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 959,579 shares of the specialty chemicals company’s stock worth $73,811,000 after buying an additional 8,141 shares in the last quarter. Finally, Vident Investment Advisory LLC purchased a new stake in Sensient Technologies during the third quarter worth $247,000. 90.99% of the stock is currently owned by hedge funds and other institutional investors.
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Sensient Technologies Company Profile
Sensient Technologies Corporation is a manufacturer and marketer of colors, flavors and fragrances. The Company uses technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, specialty inks and colors, and other specialty and fine chemicals.
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