Phibro Animal Health (NASDAQ:PAHC) Stock Price Up 12.6% Following Earnings Beat

Phibro Animal Health Co. (NASDAQ:PAHC) shares traded up 12.6% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $21.99 and last traded at $21.83. 224,642 shares were traded during trading, an increase of 18% from the average session volume of 191,148 shares. The stock had previously closed at $19.39.

The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. The company had revenue of $347.80 million during the quarter, compared to the consensus estimate of $352.41 million. Phibro Animal Health had a return on equity of 25.35% and a net margin of 1.75%.

Phibro Animal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, June 4th. Phibro Animal Health’s payout ratio is 100.00%.

Analysts Set New Price Targets

Several research analysts have weighed in on PAHC shares. Morgan Stanley boosted their price target on Phibro Animal Health from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays raised their price target on Phibro Animal Health from $20.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, February 10th. Finally, StockNews.com raised shares of Phibro Animal Health from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Hedge Funds Weigh In On Phibro Animal Health

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Phibro Animal Health by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,521,520 shares of the company’s stock valued at $32,500,000 after acquiring an additional 6,784 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Phibro Animal Health by 18.0% in the 4th quarter. American Century Companies Inc. now owns 635,599 shares of the company’s stock valued at $13,348,000 after purchasing an additional 96,787 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Phibro Animal Health by 21.4% in the fourth quarter. Nuveen Asset Management LLC now owns 588,001 shares of the company’s stock worth $12,348,000 after purchasing an additional 103,618 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Phibro Animal Health by 1.9% in the fourth quarter. Renaissance Technologies LLC now owns 557,800 shares of the company’s stock valued at $11,714,000 after buying an additional 10,600 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Phibro Animal Health by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 515,979 shares of the company’s stock valued at $10,838,000 after buying an additional 8,510 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Phibro Animal Health Trading Up 1.0 %

The company has a market cap of $910.51 million, a P/E ratio of 46.83, a P/E/G ratio of 0.45 and a beta of 0.62. The business has a fifty day simple moving average of $19.99 and a 200 day simple moving average of $21.86. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.37 and a current ratio of 3.20.

About Phibro Animal Health

Phibro Animal Health Corporation operates as an animal health and mineral nutrition company in the United States, Israel, Brazil, Ireland, and internationally. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets various products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.