Phibro Animal Health Corporation (PAHC) Rating Lowered to Hold at Zacks Investment Research
Phibro Animal Health Corporation (NASDAQ:PAHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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. However, customer consolidation can adversely affect Phibro’s revenues. Moreover, headwinds such as unfavorable currency movement and tough competitive scenario continue to pose threats.”
A number of other equities research analysts also recently commented on the company. Piper Jaffray Companies set a $41.00 price objective on Phibro Animal Health Corporation and gave the company a “buy” rating in a report on Friday, October 6th. BidaskClub downgraded Phibro Animal Health Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. Credit Suisse Group upped their price objective on Phibro Animal Health Corporation from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, August 31st. Finally, Bank of America Corporation reiterated an “underperform” rating and issued a $33.00 price objective on shares of Phibro Animal Health Corporation in a report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $34.60.
Shares of Phibro Animal Health Corporation (NASDAQ:PAHC) traded down 1.20% during trading on Wednesday, reaching $37.20. The company had a trading volume of 46,422 shares. The firm has a market capitalization of $1.48 billion, a P/E ratio of 23.11 and a beta of 1.36. The company has a 50 day moving average of $36.80 and a 200-day moving average of $35.95. Phibro Animal Health Corporation has a 52-week low of $24.85 and a 52-week high of $40.25.
Phibro Animal Health Corporation (NASDAQ:PAHC) last issued its quarterly earnings results on Wednesday, August 30th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. Phibro Animal Health Corporation had a return on equity of 47.88% and a net margin of 8.45%. The business had revenue of $194.84 million for the quarter, compared to analyst estimates of $192.47 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts expect that Phibro Animal Health Corporation will post $1.56 earnings per share for the current year.
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In related news, VP Daniel M. Bendheim sold 1,443 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $40.05, for a total value of $57,792.15. Following the completion of the sale, the vice president now owns 300 shares in the company, valued at $12,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard G. Johnson sold 55,529 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $36.30, for a total value of $2,015,702.70. Following the completion of the sale, the chief financial officer now owns 15,900 shares of the company’s stock, valued at approximately $577,170. The disclosure for this sale can be found here. Insiders sold 292,448 shares of company stock valued at $10,624,994 in the last quarter. 51.88% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in PAHC. Victory Capital Management Inc. increased its holdings in shares of Phibro Animal Health Corporation by 79.2% in the first quarter. Victory Capital Management Inc. now owns 4,573 shares of the company’s stock worth $129,000 after acquiring an additional 2,021 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Phibro Animal Health Corporation by 80.9% in the second quarter. State of Alaska Department of Revenue now owns 3,690 shares of the company’s stock worth $136,000 after acquiring an additional 1,650 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Phibro Animal Health Corporation by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,370 shares of the company’s stock worth $162,000 after acquiring an additional 150 shares in the last quarter. KBC Group NV bought a new stake in shares of Phibro Animal Health Corporation in the second quarter worth about $166,000. Finally, Capital Fund Management S.A. bought a new stake in shares of Phibro Animal Health Corporation in the second quarter worth about $210,000. Institutional investors own 49.74% of the company’s stock.
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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