Innospec (NASDAQ:IOSP) Rating Lowered to Buy at Wall Street Zen
by Scott Moore · The Cerbat GemInnospec (NASDAQ:IOSP – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.
A number of other brokerages also recently issued reports on IOSP. Seaport Research Partners reaffirmed a “buy” rating and set a $110.00 price target on shares of Innospec in a research report on Thursday, August 6th. Weiss Ratings upgraded Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.
Read Our Latest Stock Report on Innospec
Innospec Price Performance
IOSP opened at $98.72 on Friday. The firm has a market capitalization of $2.43 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.62 and a beta of 0.93. The business’s 50-day moving average is $91.77 and its two-hundred day moving average is $82.83. Innospec has a 1 year low of $65.51 and a 1 year high of $98.77.
Innospec (NASDAQ:IOSP – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The business had revenue of $491.40 million during the quarter, compared to analyst estimates of $457.25 million. During the same period in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts expect that Innospec will post 5.03 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new stake in shares of Innospec during the second quarter worth $36,000. Hantz Financial Services Inc. raised its stake in Innospec by 271.0% in the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 420 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Innospec by 316.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 503 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Innospec by 125.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 405 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Innospec during the 2nd quarter valued at about $62,000. Institutional investors and hedge funds own 96.64% of the company’s stock.
About Innospec
Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and supplies products used in the energy, transportation, personal care, household, agriculture and industrial markets. Its offerings are designed to improve product performance, support manufacturing processes and address specialized customer requirements.
The company operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its products include fuel additives and performance-enhancing chemicals for gasoline, diesel and other fuels, as well as ingredients and formulations used in personal care, home care, crop protection, construction, mining and other industrial applications.