Shares of Innospec Inc. (NASDAQ:IOSP) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating. Innospec’s rating score has improved by 40.1% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokerages have set a 12-month consensus price target of $69.00 for the company and are predicting that the company will post $0.85 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Innospec an industry rank of 47 out of 265 based on the ratings given to related companies.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Innospec from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, August 16th. BidaskClub cut shares of Innospec from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, August 22nd.

Several hedge funds have recently made changes to their positions in IOSP. Louisiana State Employees Retirement System lifted its position in shares of Innospec by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the specialty chemicals company’s stock worth $635,000 after purchasing an additional 200 shares in the last quarter. Strs Ohio raised its position in Innospec by 85.5% during the first quarter. Strs Ohio now owns 12,800 shares of the specialty chemicals company’s stock worth $828,000 after acquiring an additional 5,900 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Innospec by 7.4% during the first quarter. Great West Life Assurance Co. Can now owns 33,995 shares of the specialty chemicals company’s stock worth $2,199,000 after acquiring an additional 2,353 shares in the last quarter. American Century Companies Inc. raised its position in Innospec by 2.7% during the first quarter. American Century Companies Inc. now owns 355,375 shares of the specialty chemicals company’s stock worth $23,011,000 after acquiring an additional 9,389 shares in the last quarter. Finally, Comerica Bank raised its position in Innospec by 4.5% during the first quarter. Comerica Bank now owns 26,662 shares of the specialty chemicals company’s stock worth $1,774,000 after acquiring an additional 1,139 shares in the last quarter. 91.70% of the stock is currently owned by institutional investors and hedge funds.

Innospec (NASDAQ IOSP) traded up 2.21% during midday trading on Friday, reaching $55.45. 58,048 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $58.72 and its 200 day moving average is $62.89. The stock has a market cap of $1.34 billion, a P/E ratio of 17.65 and a beta of 1.18. Innospec has a 1-year low of $54.10 and a 1-year high of $74.75.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. The company had revenue of $326.30 million during the quarter. Innospec had a net margin of 7.22% and a return on equity of 14.77%. Equities analysts anticipate that Innospec will post $4.28 earnings per share for the current fiscal year.

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About Innospec

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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