Innospec Inc. (NASDAQ:IOSP) Stock Rating Lowered by ValuEngine
Innospec Inc. (NASDAQ:IOSP) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Monday.
Several other brokerages have also recently weighed in on IOSP. Zacks Investment Research cut shares of Innospec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of Innospec from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th.
Innospec (NASDAQ IOSP) traded down 0.08% on Monday, hitting $62.60. The stock had a trading volume of 151,389 shares. Innospec has a 12-month low of $49.54 and a 12-month high of $74.75. The company has a market capitalization of $1.51 billion, a PE ratio of 19.20 and a beta of 1.15. The company has a 50 day moving average of $64.68 and a 200 day moving average of $65.18.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, May 9th. The specialty chemicals company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.14. Innospec had a net margin of 8.24% and a return on equity of 14.63%. The company had revenue of $294.30 million for the quarter, compared to analysts’ expectations of $287 million. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Innospec’s revenue for the quarter was up 38.8% on a year-over-year basis. On average, equities analysts expect that Innospec will post $4.12 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Innospec during the second quarter valued at $106,000. Ameritas Investment Partners Inc. bought a new position in shares of Innospec during the first quarter valued at $132,000. Victory Capital Management Inc. raised its position in shares of Innospec by 18.1% in the first quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock valued at $150,000 after buying an additional 354 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Innospec by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 2,660 shares of the specialty chemicals company’s stock valued at $172,000 after buying an additional 70 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Innospec during the first quarter valued at $240,000. Hedge funds and other institutional investors own 90.52% of the company’s stock.
Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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