Sensient Technologies Corporation (SXT) Rating Increased to Buy at Zacks Investment Research
Sensient Technologies Corporation (NYSE:SXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm presently has a $92.00 price target on the specialty chemicals company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.39% from the company’s current price.
According to Zacks, “Sensient Technologies Corporation is a leading global supplier of colors, flavors and fragrances. Using sophisticated technologies at facilities around the world, the Company develops unique formulations and ingredients that bring life to its customers’ products. Sensient manufactures a full range of ink-jet inks, cosmetic and pharmaceutical additives, as well as colors and flavors for many of the world’s best-known brands. (Press Release) “
Sensient Technologies Corporation (NYSE:SXT) opened at 81.86 on Friday. Sensient Technologies Corporation has a 12 month low of $67.40 and a 12 month high of $84.55. The company has a market cap of $3.62 billion, a PE ratio of 33.73 and a beta of 1.06. The company has a 50-day moving average of $80.94 and a 200 day moving average of $79.57.
Sensient Technologies Corporation (NYSE:SXT) last posted its quarterly earnings results on Tuesday, April 25th. The specialty chemicals company reported $0.82 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. The company had revenue of $341.40 million for the quarter. Sensient Technologies Corporation had a net margin of 7.83% and a return on equity of 17.16%. During the same period in the prior year, the business earned $0.75 EPS. On average, equities analysts forecast that Sensient Technologies Corporation will post $3.41 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Wednesday, May 10th. Sensient Technologies Corporation’s dividend payout ratio (DPR) is 49.59%.
A number of hedge funds and other institutional investors have recently bought and sold shares of SXT. Horan Securities Inc. acquired a new position in Sensient Technologies Corporation during the first quarter worth approximately $124,000. Tower Research Capital LLC TRC increased its position in Sensient Technologies Corporation by 5,636.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,721 shares of the specialty chemicals company’s stock worth $136,000 after buying an additional 1,691 shares during the period. Airain ltd acquired a new position in Sensient Technologies Corporation during the first quarter worth approximately $202,000. Gideon Capital Advisors Inc. acquired a new position in Sensient Technologies Corporation during the fourth quarter worth approximately $203,000. Finally, Scout Investments Inc. acquired a new position in Sensient Technologies Corporation during the first quarter worth approximately $210,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.
About Sensient Technologies Corporation
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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