Zacks Investment Research Downgrades Innophos Holdings, Inc. (IPHS) to Hold
Innophos Holdings, Inc. (NASDAQ:IPHS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released 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. “
Separately, BidaskClub downgraded Innophos Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
Shares of Innophos Holdings (NASDAQ IPHS) traded down 1.29% during trading on Wednesday, hitting $49.85. The stock had a trading volume of 82,666 shares. Innophos Holdings has a 12 month low of $38.40 and a 12 month high of $58.22. The company has a market cap of $966.89 million, a PE ratio of 21.77 and a beta of 0.89. The stock has a 50 day moving average of $46.25 and a 200 day moving average of $45.70.
Innophos Holdings (NASDAQ:IPHS) last posted its earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The company had revenue of $179.14 million for the quarter, compared to the consensus estimate of $172.65 million. Innophos Holdings had a return on equity of 13.79% and a net margin of 6.46%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. Equities analysts forecast that Innophos Holdings will post $2.51 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of IPHS. Public Employees Retirement System of Ohio lifted its position in shares of Innophos Holdings by 5.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,824 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 157 shares in the last quarter. Barings LLC purchased a new stake in shares of Innophos Holdings in the first quarter worth about $200,000. Pacad Investment Ltd. lifted its position in shares of Innophos Holdings by 19.5% in the second quarter. Pacad Investment Ltd. now owns 4,900 shares of the specialty chemicals company’s stock worth $215,000 after buying an additional 800 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Innophos Holdings by 44.6% in the second quarter. State of Alaska Department of Revenue now owns 5,508 shares of the specialty chemicals company’s stock worth $240,000 after buying an additional 1,698 shares in the last quarter. Finally, Invictus RG purchased a new stake in shares of Innophos Holdings in the first quarter worth about $244,000. Institutional investors own 94.21% 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. The Company’s segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and Granular Triple Super Phosphate (GTSP) & Other.
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