Piper Jaffray Companies Analysts Give Phibro Animal Health Corporation (PAHC) a $42.00 Price Target
Other equities research analysts have also recently issued research reports about the company. BidaskClub cut Phibro Animal Health Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, June 14th. Bank of America Corporation reiterated an underperform rating and issued a $33.00 price objective on shares of Phibro Animal Health Corporation in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded Phibro Animal Health Corporation from a hold rating to a buy rating and set a $38.00 price objective for the company in a research note on Thursday, May 11th. Finally, Credit Suisse Group cut Phibro Animal Health Corporation from an outperform rating to a neutral rating and boosted their price objective for the company from $29.00 to $36.00 in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $31.86.
Shares of Phibro Animal Health Corporation (NASDAQ:PAHC) opened at 37.75 on Friday. The stock has a 50 day moving average of $38.56 and a 200-day moving average of $33.09. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 23.45 and a beta of 1.35. Phibro Animal Health Corporation has a 52 week low of $20.14 and a 52 week high of $40.25.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, September 1st. Phibro Animal Health Corporation’s payout ratio is currently 24.69%.
In other news, insider Jack Bendheim sold 48,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $35.62, for a total value of $1,709,760.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Daniel M. Bendheim sold 1,443 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $40.05, for a total value of $57,792.15. Following the completion of the transaction, the vice president now directly owns 300 shares in the company, valued at approximately $12,015. The disclosure for this sale can be found here. In the last three months, insiders sold 268,657 shares of company stock worth $9,802,503. Corporate insiders own 48.09% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gargoyle Investment Advisor L.L.C. bought a new position in Phibro Animal Health Corporation during the first quarter worth about $378,000. Comerica Bank raised its position in Phibro Animal Health Corporation by 3.5% in the first quarter. Comerica Bank now owns 21,578 shares of the company’s stock worth $647,000 after buying an additional 734 shares during the last quarter. Bank of New York Mellon Corp raised its position in Phibro Animal Health Corporation by 13.3% in the first quarter. Bank of New York Mellon Corp now owns 347,657 shares of the company’s stock worth $9,769,000 after buying an additional 40,735 shares during the last quarter. Algert Global LLC raised its position in Phibro Animal Health Corporation by 32.9% in the first quarter. Algert Global LLC now owns 64,684 shares of the company’s stock worth $1,818,000 after buying an additional 16,013 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in Phibro Animal Health Corporation during the first quarter worth about $376,000. 48.35% of the stock is currently owned by institutional investors and hedge funds.
Phibro Animal Health Corporation Company Profile
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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