Innospec (NASDAQ:IOSP) Downgraded by Wall Street Zen to Hold

by · The Cerbat Gem

Wall Street Zen cut shares of Innospec (NASDAQ:IOSP – Free Report) from a buy rating to a hold rating in a research note published on Sunday morning.

A number of other brokerages have also recently commented on IOSP. Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Check Out Our Latest Research Report on IOSP

Innospec Trading Down 0.1%

Shares of NASDAQ:IOSP opened at $74.08 on Friday. The business has a 50-day moving average price of $81.31 and a 200 day moving average price of $84.54. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 94.97 and a beta of 1.04. Innospec has a 12-month low of $73.58 and a 12-month high of $128.35.

Innospec (NASDAQ:IOSP – Get Free Report) last announced its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The company had revenue of $439.70 million during the quarter, compared to analysts’ expectations of $440.70 million. During the same period last year, the business posted $1.39 EPS. Innospec’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that Innospec will post 6.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innospec

Several hedge funds and other institutional investors have recently made changes to their positions in IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Innospec in the 2nd quarter valued at about $28,000. Tsfg LLC purchased a new position in shares of Innospec in the 1st quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 487 shares during the period. Blue Trust Inc. boosted its stake in shares of Innospec by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock valued at $57,000 after buying an additional 186 shares during the period. Finally, State of Wyoming boosted its stake in shares of Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

About Innospec

(Get Free Report)

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.

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