Zacks Investment Research upgraded shares of Sensient Technologies Corporation (NYSE:SXT) from a hold rating to a buy rating in a research note released on Saturday, June 17th. The brokerage currently has $92.00 target price on the specialty chemicals company’s stock.

According to Zacks, “Sensient Technologies Corporation is a leading global supplier of colors, flavors and fragrances. Using sophisticated technologies at facilities around the world, the Company develops unique formulations and ingredients that bring life to its customers’ products. Sensient manufactures a full range of ink-jet inks, cosmetic and pharmaceutical additives, as well as colors and flavors for many of the world’s best-known brands. (Press Release) “

Sensient Technologies Corporation (NYSE SXT) traded up 0.40% on Friday, hitting $82.22. 84,332 shares of the stock traded hands. Sensient Technologies Corporation has a 52-week low of $68.51 and a 52-week high of $84.55. The company’s 50 day moving average price is $80.85 and its 200-day moving average price is $79.65. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 42.60 and a beta of 1.09.

Sensient Technologies Corporation (NYSE:SXT) last posted its quarterly earnings data on Tuesday, April 25th. The specialty chemicals company reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. Sensient Technologies Corporation had a net margin of 7.83% and a return on equity of 17.16%. The firm had revenue of $341.40 million during the quarter. During the same quarter last year, the firm earned $0.75 EPS. On average, analysts forecast that Sensient Technologies Corporation will post $3.41 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Sensient Technologies Corporation by 22,190.3% in the first quarter. BlackRock Inc. now owns 4,553,467 shares of the specialty chemicals company’s stock worth $360,908,000 after buying an additional 4,533,039 shares during the last quarter. Vanguard Group Inc. raised its stake in Sensient Technologies Corporation by 6.6% in the first quarter. Vanguard Group Inc. now owns 4,145,433 shares of the specialty chemicals company’s stock worth $328,567,000 after buying an additional 256,125 shares during the last quarter. State Street Corp raised its stake in Sensient Technologies Corporation by 1.1% in the first quarter. State Street Corp now owns 1,428,490 shares of the specialty chemicals company’s stock worth $113,220,000 after buying an additional 15,130 shares during the last quarter. Wellington Management Group LLP raised its stake in Sensient Technologies Corporation by 0.4% in the first quarter. Wellington Management Group LLP now owns 1,358,032 shares of the specialty chemicals company’s stock worth $107,637,000 after buying an additional 5,490 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its stake in Sensient Technologies Corporation by 13.8% in the first quarter. Aberdeen Asset Management PLC UK now owns 769,474 shares of the specialty chemicals company’s stock worth $60,988,000 after buying an additional 93,026 shares during the last quarter. Institutional investors and hedge funds own 88.98% of the company’s stock.

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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