Innophos Holdings Inc. (IPHS) Downgraded to Hold at Zacks Investment Research
Innophos Holdings Inc. (NASDAQ:IPHS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Innophos, Inc., is one of the leading North American manufacturers of specialty phosphates, serving a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos’ market-leading positions derive from its experience and dedication to customer service and innovation. “
Innophos Holdings (NASDAQ:IPHS) opened at 39.35 on Wednesday. The stock has a market cap of $757.13 million, a P/E ratio of 30.18 and a beta of 0.81. The firm has a 50-day moving average price of $39.64 and a 200-day moving average price of $39.03. Innophos Holdings has a 52 week low of $22.06 and a 52 week high of $44.42.
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Innophos Holdings (NASDAQ:IPHS) last released its earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. The firm earned $181.90 million during the quarter, compared to analysts’ expectations of $199.70 million. Innophos Holdings had a return on equity of 9.83% and a net margin of 3.47%. The company’s revenue was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities research analysts predict that Innophos Holdings will post $2.44 EPS for the current year.
In related news, Director Robert J. Zatta acquired 1,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was bought at an average price of $40.31 per share, for a total transaction of $40,310.00. Following the acquisition, the director now directly owns 6,351 shares of the company’s stock, valued at $256,008.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. PineBridge Investments L.P. boosted its position in shares of Innophos Holdings by 8.5% in the second quarter. PineBridge Investments L.P. now owns 2,455 shares of the company’s stock valued at $104,000 after buying an additional 193 shares during the last quarter. First Mercantile Trust Co. bought a new position in shares of Innophos Holdings during the second quarter valued at $109,000. Teacher Retirement System of Texas boosted its position in shares of Innophos Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,684 shares of the company’s stock valued at $113,000 after buying an additional 325 shares during the last quarter. BlackRock Inc. boosted its position in shares of Innophos Holdings by 121.0% in the second quarter. BlackRock Inc. now owns 3,021 shares of the company’s stock valued at $128,000 after buying an additional 1,654 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Innophos Holdings by 13.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,132 shares of the company’s stock valued at $132,000 after buying an additional 366 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.
Innophos Holdings Company Profile
Innophos Holdings, Inc is a producer of nutritional specialty ingredients with applications in food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets. The Company also provides bioactive mineral and nutritional ingredients. Its segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and GTSP & Other.
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