Innospec (NASDAQ:IOSP) Stock Rating Cut to “Buy” at Wall Street Zen
by Sarita Garza · The Markets DailyWall Street Zen lowered shares of Innospec (NASDAQ:IOSP – Free Report) from a strong-buy rating to a buy rating in a report released on Saturday,Wall Street Zen reports.
Other research analysts also recently issued research reports about the company. Seaport Research Partners restated a “buy” rating and issued a $110.00 target price on shares of Innospec in a research note on Thursday, August 6th. Weiss Ratings upgraded Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.
Get Our Latest Analysis on Innospec
Innospec Price Performance
Shares of IOSP stock opened at $98.72 on Friday. The company’s fifty day simple moving average is $91.77 and its two-hundred day simple moving average is $82.75. Innospec has a 1 year low of $65.51 and a 1 year high of $98.77. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.62 and a beta of 0.93.
Innospec (NASDAQ:IOSP – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.22. Innospec had a return on equity of 9.22% and a net margin of 6.60%.The firm had revenue of $491.40 million during the quarter, compared to analyst estimates of $457.25 million. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts anticipate that Innospec will post 5.03 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in IOSP. Meeder Asset Management Inc. purchased a new stake in shares of Innospec in the second quarter worth $36,000. Hantz Financial Services Inc. grew its position in Innospec by 271.0% during the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 420 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Innospec by 316.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 503 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Innospec by 125.4% in 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 last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Innospec in the 2nd quarter worth about $62,000. Institutional investors own 96.64% of the company’s stock.
Innospec Company Profile
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.