Innospec Inc. (IOSP) Given Average Recommendation of “Buy” by Analysts
Shares of Innospec Inc. (NASDAQ:IOSP) have earned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Innospec’s rating score has declined by 19.8% in the last 90 days as a result of a number of analysts’ ratings changes.
Analysts have set a 1 year consensus price objective of $71.00 for the company and are predicting that the company will post $1.08 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Innospec an industry rank of 33 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Innospec from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a research report on Tuesday, May 16th. ValuEngine lowered Innospec from a “buy” rating to a “hold” rating in a research report on Monday. Finally, BidaskClub lowered Innospec from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th.
A number of large investors have recently made changes to their positions in IOSP. Principal Financial Group Inc. increased its position in Innospec by 115.7% in the second quarter. Principal Financial Group Inc. now owns 424,284 shares of the specialty chemicals company’s stock worth $27,812,000 after buying an additional 227,605 shares in the last quarter. Prudential Financial Inc. increased its position in Innospec by 1.9% in the second quarter. Prudential Financial Inc. now owns 45,380 shares of the specialty chemicals company’s stock worth $2,975,000 after buying an additional 840 shares in the last quarter. American Century Companies Inc. increased its position in Innospec by 1.6% in the second quarter. American Century Companies Inc. now owns 361,036 shares of the specialty chemicals company’s stock worth $23,666,000 after buying an additional 5,661 shares in the last quarter. Victory Capital Management Inc. increased its position in Innospec by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,720 shares of the specialty chemicals company’s stock worth $178,000 after buying an additional 409 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its position in Innospec by 4.6% in the second quarter. Virginia Retirement Systems ET AL now owns 25,100 shares of the specialty chemicals company’s stock worth $1,645,000 after buying an additional 1,100 shares in the last quarter. 90.52% of the stock is currently owned by institutional investors and hedge funds.
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Innospec (IOSP) traded up 1.28% during trading on Tuesday, reaching $63.40. The company’s stock had a trading volume of 92,336 shares. The firm has a market cap of $1.53 billion, a P/E ratio of 19.45 and a beta of 1.15. The stock’s 50 day moving average is $64.23 and its 200-day moving average is $65.13. Innospec has a 52 week low of $54.45 and a 52 week high of $74.75.
Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, May 9th. The specialty chemicals company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.14. The company had revenue of $294.30 million for the quarter, compared to analyst estimates of $287 million. Innospec had a return on equity of 14.63% and a net margin of 8.24%. Innospec’s revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. On average, equities research analysts forecast that Innospec will post $4.12 earnings per share for the current fiscal year.
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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