Phibro Animal Health Corporation (PAHC) Rating Increased to Buy at Zacks Investment Research
Phibro Animal Health Corporation (NASDAQ:PAHC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $41.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 12.95% from the stock’s previous close.
According to Zacks, “Over the past six months, Phibro has been trading above the broader industry. Phibro ended the fiscal fourth quarter on a solid note with both net sales and adjusted earnings beating the respective estimates. Also, the year-over-year increase in both the counts is encouraging. Further, the company witnessed year-over-year improvement across all segments. We are also encouraged by the expansion in the gross and operating margin in the reported quarter. Moreover, on a full-year basis, adjusted earnings and net sales surpassed the estimates as well with year-over-year increases in both. The company has provided its fiscal 2018 guidance for both net sales and adjusted earnings.”
PAHC has been the topic of several other research reports. Credit Suisse Group boosted their price target on shares of Phibro Animal Health Corporation from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Piper Jaffray Companies set a $41.00 price target on shares of Phibro Animal Health Corporation and gave the company a “buy” rating in a research report on Friday, October 6th. BidaskClub cut shares of Phibro Animal Health Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Bank of America Corporation reissued an “underperform” rating and set a $33.00 price target on shares of Phibro Animal Health Corporation in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Phibro Animal Health Corporation currently has a consensus rating of “Hold” and a consensus price target of $34.60.
Shares of Phibro Animal Health Corporation (NASDAQ:PAHC) traded up 3.86% during midday trading on Tuesday, hitting $37.65. 35,592 shares of the stock traded hands. The company’s 50 day moving average price is $36.76 and its 200-day moving average price is $35.93. Phibro Animal Health Corporation has a 12-month low of $24.85 and a 12-month high of $40.25. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 23.39 and a beta of 1.37.
Phibro Animal Health Corporation (NASDAQ:PAHC) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $194.84 million for the quarter, compared to analysts’ expectations of $192.47 million. Phibro Animal Health Corporation had a net margin of 8.45% and a return on equity of 47.88%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. On average, equities research analysts expect that Phibro Animal Health Corporation will post $1.56 EPS for the current year.
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In other Phibro Animal Health Corporation news, VP Daniel M. Bendheim sold 1,443 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $40.05, for a total value of $57,792.15. Following the transaction, the vice president now owns 300 shares of the company’s stock, valued at $12,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel M. Bendheim sold 5,938 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $40.04, for a total transaction of $237,757.52. Following the completion of the transaction, the vice president now directly owns 300 shares in the company, valued at approximately $12,012. The disclosure for this sale can be found here. Insiders sold 292,448 shares of company stock worth $10,624,994 in the last ninety days. 51.88% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new stake in Phibro Animal Health Corporation during the second quarter worth about $6,353,000. AJO LP purchased a new stake in Phibro Animal Health Corporation during the second quarter worth about $5,815,000. FMR LLC increased its stake in Phibro Animal Health Corporation by 31.9% during the second quarter. FMR LLC now owns 584,463 shares of the company’s stock worth $21,654,000 after purchasing an additional 141,274 shares during the period. Vanguard Group Inc. increased its stake in Phibro Animal Health Corporation by 8.2% during the first quarter. Vanguard Group Inc. now owns 1,729,406 shares of the company’s stock worth $48,597,000 after purchasing an additional 130,935 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Phibro Animal Health Corporation by 50.6% during the second quarter. Ameriprise Financial Inc. now owns 339,996 shares of the company’s stock worth $12,599,000 after purchasing an additional 114,230 shares during the period. 49.74% of the stock is currently owned by institutional investors.
About Phibro Animal Health Corporation
Phibro Animal Health Corporation (Phibro) is a global diversified animal health and mineral nutrition company. The Company operates in three segments, which include Animal Health, Mineral Nutrition and Performance Products. The Company offers various products, which include Animal health products, such as antibacterials, anticoccidials, vaccines, nutritional specialty products and mineral nutrition products.
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