Phibro Animal Health (NASDAQ:PAHC) Shares Gap Up - Here's What Happened

Phibro Animal Health Corporation (NASDAQ:PAHC - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $28.00, but opened at $29.63. Phibro Animal Health shares last traded at $29.99, with a volume of 61,889 shares changing hands.

Analyst Upgrades and Downgrades

PAHC has been the subject of several recent research reports. BNP Paribas raised Phibro Animal Health to a "hold" rating in a report on Monday, June 16th. JPMorgan Chase & Co. raised Phibro Animal Health from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $25.00 to $35.00 in a research note on Monday. BNP Paribas Exane raised Phibro Animal Health from an "underperform" rating to a "neutral" rating and set a $24.00 price target on the stock in a research note on Monday, June 16th. Morgan Stanley set a $26.00 price objective on Phibro Animal Health and gave the stock an "equal weight" rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised Phibro Animal Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $24.40.

Phibro Animal Health Stock Down 0.8%

The business has a 50-day moving average of $24.31 and a 200-day moving average of $22.31. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.23 and a current ratio of 2.91. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 0.50 and a beta of 0.75.

Phibro Animal Health (NASDAQ:PAHC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.11. Phibro Animal Health had a return on equity of 30.51% and a net margin of 2.68%. The firm had revenue of $347.80 million during the quarter, compared to the consensus estimate of $352.41 million. On average, sell-side analysts expect that Phibro Animal Health Corporation will post 1.95 EPS for the current year.

Phibro Animal Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Wednesday, June 4th. Phibro Animal Health's dividend payout ratio (DPR) is 61.54%.

Hedge Funds Weigh In On Phibro Animal Health

A number of hedge funds and other institutional investors have recently bought and sold shares of PAHC. Nuveen LLC purchased a new position in Phibro Animal Health during the 1st quarter valued at about $10,312,000. Invesco Ltd. boosted its stake in shares of Phibro Animal Health by 92.3% in the 1st quarter. Invesco Ltd. now owns 387,739 shares of the company's stock valued at $8,282,000 after buying an additional 186,087 shares during the period. Axecap Investments LLC purchased a new position in shares of Phibro Animal Health in the 1st quarter valued at about $3,696,000. Millennium Management LLC boosted its stake in shares of Phibro Animal Health by 74.3% in the 1st quarter. Millennium Management LLC now owns 362,030 shares of the company's stock valued at $7,733,000 after buying an additional 154,281 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Phibro Animal Health by 56.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 301,173 shares of the company's stock valued at $6,325,000 after buying an additional 108,918 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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.