Sensient Technologies (SXT) Lifted to “Buy” at Gabelli

Sensient Technologies (NYSE:SXT) was upgraded by Gabelli from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage currently has a $94.00 price target on the specialty chemicals company’s stock. Gabelli’s target price points to a potential upside of 35.21% from the company’s current price.

Several other equities analysts have also weighed in on SXT. TheStreet lowered Sensient Technologies from a “b” rating to a “c+” rating in a research note on Thursday. KeyCorp restated a “buy” rating and issued a $90.00 price target on shares of Sensient Technologies in a research note on Friday, November 3rd. Finally, Off Wall Street assumed coverage on Sensient Technologies in a research note on Monday, December 18th. They issued a “sell” rating for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $90.77.

Shares of Sensient Technologies (SXT) traded up $1.43 during trading on Monday, hitting $69.52. The company had a trading volume of 582,639 shares, compared to its average volume of 383,965. 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 has a 1 year low of $65.60 and a 1 year high of $84.98. The stock has a market cap of $2,960.27, a price-to-earnings ratio of 34.25, a PEG ratio of 2.10 and a beta of 0.98.

Sensient Technologies (NYSE:SXT) last announced its quarterly earnings results on Thursday, February 8th. The specialty chemicals company reported $0.84 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. Sensient Technologies had a return on equity of 17.37% and a net margin of 6.58%. The firm had revenue of $328.87 million during the quarter. sell-side analysts anticipate that Sensient Technologies will post 3.78 earnings per share for the current fiscal year.

Sensient Technologies announced that its board has approved a stock buyback program on Thursday, October 19th that permits the company to buyback 3,000,000 shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

In other Sensient Technologies news, Director Essie Whitelaw sold 667 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $75.15, for a total transaction of $50,125.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Sensient Technologies by 3.9% during the 4th quarter. BlackRock Inc. now owns 4,759,009 shares of the specialty chemicals company’s stock worth $348,121,000 after buying an additional 179,909 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of Sensient Technologies by 1.6% in the third quarter. Neuberger Berman Group LLC now owns 3,986,590 shares of the specialty chemicals company’s stock valued at $306,648,000 after purchasing an additional 63,383 shares in the last quarter. State Street Corp grew its position in shares of Sensient Technologies by 4.2% in the second quarter. State Street Corp now owns 1,488,505 shares of the specialty chemicals company’s stock valued at $119,869,000 after purchasing an additional 60,015 shares in the last quarter. Standard Life Aberdeen plc grew its position in shares of Sensient Technologies by 30.3% in the fourth quarter. Standard Life Aberdeen plc now owns 1,027,093 shares of the specialty chemicals company’s stock valued at $75,137,000 after purchasing an additional 239,123 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Sensient Technologies by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 959,579 shares of the specialty chemicals company’s stock valued at $73,811,000 after purchasing an additional 8,141 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

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About Sensient Technologies

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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