Innophos (NASDAQ:IPHS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

IPHS has been the topic of several other reports. BidaskClub lowered Innophos from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. KeyCorp reaffirmed a “hold” rating on shares of Innophos in a research report on Wednesday, November 1st.

Shares of Innophos (NASDAQ:IPHS) traded down $1.24 during midday trading on Thursday, reaching $44.46. The company’s stock had a trading volume of 119,166 shares, compared to its average volume of 117,373. Innophos has a 1 year low of $41.66 and a 1 year high of $58.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.86 and a quick ratio of 1.49. The firm has a market capitalization of $877.63, a price-to-earnings ratio of 18.27 and a beta of 0.86.

Innophos (NASDAQ:IPHS) last issued its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Innophos had a return on equity of 13.90% and a net margin of 6.19%. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $179.33 million. During the same period last year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. equities research analysts predict that Innophos will post 2.5 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. bought a new position in shares of Innophos in the third quarter worth $109,000. Public Employees Retirement System of Ohio grew its stake in shares of Innophos 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 purchasing an additional 157 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Innophos in the third quarter worth $193,000. Piedmont Investment Advisors LLC bought a new position in shares of Innophos in the third quarter worth $209,000. Finally, Ifrah Financial Services Inc. bought a new position in shares of Innophos in the third quarter worth $215,000. 94.46% of the stock is owned by institutional investors.

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About Innophos

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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