Zacks: Analysts Set $90.00 Target Price for Sensient Technologies Corporation (SXT)
Sensient Technologies Corporation (NYSE:SXT) has been given a consensus broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. Sensient Technologies Corporation’s rating score has improved by 28.3% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 12-month consensus target price of $90.00 for the company and are forecasting that the company will post $0.84 earnings per share for the current quarter, according to Zacks. Zacks has also given Sensient Technologies Corporation an industry rank of 66 out of 265 based on the ratings given to its competitors.
A number of research firms recently commented on SXT. Zacks Investment Research upgraded Sensient Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub cut Sensient Technologies Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Berenberg Bank assumed coverage on Sensient Technologies Corporation in a report on Friday, September 22nd. They issued a “buy” rating and a $88.30 price target for the company. Finally, KeyCorp restated a “buy” rating and issued a $90.00 price target on shares of Sensient Technologies Corporation in a report on Thursday, August 24th.
In other news, Director Fergus M. Clydesdale sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $76.00, for a total transaction of $152,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Sensient Technologies Corporation during the 3rd quarter worth about $394,000. Palisade Capital Management LLC NJ grew its holdings in shares of Sensient Technologies Corporation by 1.9% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 181,269 shares of the specialty chemicals company’s stock worth $13,943,000 after purchasing an additional 3,345 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Sensient Technologies Corporation during the 3rd quarter worth about $923,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Sensient Technologies Corporation during the 3rd quarter worth about $351,000. Finally, Pictet Asset Management Ltd. purchased a new stake in shares of Sensient Technologies Corporation during the 3rd quarter worth about $1,200,000. Institutional investors and hedge funds own 88.61% of the company’s stock.
Sensient Technologies Corporation (NYSE:SXT) last posted its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $353.52 million during the quarter. Sensient Technologies Corporation had a return on equity of 17.34% and a net margin of 7.89%. During the same quarter in the prior year, the business posted $0.83 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 6th will be issued a $0.33 dividend. This is a boost from Sensient Technologies Corporation’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.32 annualized dividend and a yield of 1.75%. Sensient Technologies Corporation’s payout ratio is 49.59%.
Sensient Technologies Corporation announced that its board has approved a stock repurchase plan on Thursday, October 19th that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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Sensient Technologies Corporation 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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