Phibro Animal Health: Good Company, Good Performance, Questionable Price
(WorldNews Health)

Phibro Animal Health (NASDAQ:PAHC) has done a nice job over the past few quarters in what should be a relatively difficult time for the company. Pushback against the use of antibiotics in livestock from both consumers and regulators, and the potential loss of sales of Mecadox both present near-term headwinds. Dairy weakness has further pressured end user demand. But Phibro has chugged along nicely, beating consensus EPS estimates in each of its last three quarters and rebounding from lows around $18 last February. Strength in vaccines and nutritional specialties have offset some of the pressure, and continuing margin improvement has helped profits as well. After the company`s fiscal second...