Robert W. Baird Raises Sensient Technologies (NYSE:SXT) Price Target to $80.00

Sensient Technologies (NYSE:SXT) had its price objective lifted by research analysts at Robert W. Baird from $70.00 to $80.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Robert W. Baird’s price objective suggests a potential upside of 9.23% from the stock’s previous close.

Sensient Technologies Stock Performance

Shares of SXT stock opened at $73.24 on Monday. The firm has a 50 day moving average of $68.26 and a 200-day moving average of $63.57. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 34.06 and a beta of 0.79. The company has a quick ratio of 1.71, a current ratio of 4.31 and a debt-to-equity ratio of 0.60. Sensient Technologies has a 52 week low of $52.90 and a 52 week high of $78.70.

Sensient Technologies (NYSE:SXT) last posted its quarterly earnings results on Friday, February 9th. The specialty chemicals company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). Sensient Technologies had a return on equity of 11.40% and a net margin of 6.16%. The company had revenue of $349.30 million during the quarter, compared to analyst estimates of $371.10 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Sensient Technologies will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Sensient Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SXT. Nordea Investment Management AB raised its holdings in Sensient Technologies by 21.9% during the fourth quarter. Nordea Investment Management AB now owns 1,688,101 shares of the specialty chemicals company’s stock worth $111,617,000 after buying an additional 303,612 shares during the last quarter. Victory Capital Management Inc. lifted its position in Sensient Technologies by 14.1% in the 3rd quarter. Victory Capital Management Inc. now owns 217,644 shares of the specialty chemicals company’s stock valued at $12,728,000 after acquiring an additional 26,969 shares in the last quarter. M&T Bank Corp boosted its stake in Sensient Technologies by 3.7% during the 3rd quarter. M&T Bank Corp now owns 24,492 shares of the specialty chemicals company’s stock valued at $1,433,000 after purchasing an additional 880 shares during the last quarter. Heartland Advisors Inc. increased its holdings in Sensient Technologies by 7.8% during the 3rd quarter. Heartland Advisors Inc. now owns 140,716 shares of the specialty chemicals company’s stock worth $9,082,000 after purchasing an additional 10,225 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Sensient Technologies in the third quarter worth approximately $3,054,000. Institutional investors own 90.86% of the company’s stock.

About Sensient Technologies

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in North America, Europe, Asia, Australia, South America, and Africa. The company offers flavor-delivery systems, and compounded and blended products; ingredient products, such as essential oils, natural and synthetic flavors, and natural extracts; and chili powder, paprika, and chili pepper, as well as dehydrated vegetables comprising parsley, celery, and spinach to the food, beverage, and personal care industries.