Phibro Animal Health Corporation (PAHC) Raised 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 report issued to clients and investors on Tuesday. The firm currently has a $41.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.95% from the company’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.”
Other equities research analysts also recently issued reports about the stock. Piper Jaffray Companies set a $35.00 price objective on shares of Phibro Animal Health Corporation and gave the stock a “buy” rating in a research note on Friday, July 21st. BidaskClub downgraded shares of Phibro Animal Health Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 23rd. Bank of America Corporation reiterated an “underperform” rating and set a $33.00 price objective on shares of Phibro Animal Health Corporation in a research note on Wednesday, August 23rd. Finally, Credit Suisse Group lifted their price objective on shares of Phibro Animal Health Corporation from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $34.60.
Shares of Phibro Animal Health Corporation (NASDAQ:PAHC) traded up 3.31% during midday trading on Tuesday, reaching $37.45. 29,727 shares of the company’s stock were exchanged. Phibro Animal Health Corporation has a one year low of $24.85 and a one year high of $40.25. The firm has a market cap of $1.49 billion, a PE ratio of 23.26 and a beta of 1.37. The stock’s 50-day moving average is $36.76 and its 200 day moving average is $35.93.
Phibro Animal Health Corporation (NASDAQ:PAHC) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. Phibro Animal Health Corporation had a net margin of 8.45% and a return on equity of 47.88%. The business had revenue of $194.84 million during the quarter, compared to the consensus estimate of $192.47 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that Phibro Animal Health Corporation will post $1.56 EPS for the current year.
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In related news, VP Daniel M. Bendheim sold 1,443 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $40.05, for a total transaction of $57,792.15. Following the completion of the transaction, the vice president now owns 300 shares of the company’s stock, valued at $12,015. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Larry Lee Miller sold 32,459 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $35.59, for a total transaction of $1,155,215.81. Following the transaction, the chief operating officer now directly owns 4,237 shares of the company’s stock, valued at approximately $150,794.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 292,448 shares of company stock valued at $10,624,994. 51.88% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAHC. Janus Henderson Group PLC purchased a new position in Phibro Animal Health Corporation in the second quarter valued at $6,353,000. AJO LP purchased a new position in Phibro Animal Health Corporation in the second quarter valued at $5,815,000. FMR LLC increased its holdings in Phibro Animal Health Corporation by 31.9% in the second quarter. FMR LLC now owns 584,463 shares of the company’s stock valued at $21,654,000 after buying an additional 141,274 shares in the last quarter. Vanguard Group Inc. increased its holdings in Phibro Animal Health Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 1,729,406 shares of the company’s stock valued at $48,597,000 after buying an additional 130,935 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Phibro Animal Health Corporation by 50.6% in the second quarter. Ameriprise Financial Inc. now owns 339,996 shares of the company’s stock valued at $12,599,000 after buying an additional 114,230 shares in the last quarter. 49.74% of the stock is 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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