Innospec Inc. (IOSP) Receives Average Recommendation of “Buy” from Brokerages
Shares of Innospec Inc. (NASDAQ:IOSP) have received a consensus recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $76.00.
Several analysts have recently commented on IOSP shares. Zacks Investment Research cut Innospec from a “buy” rating to a “hold” rating and set a $63.00 price target for the company. in a report on Tuesday, September 12th. ValuEngine raised Innospec from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. KeyCorp reissued an “overweight” rating on shares of Innospec in a report on Thursday, November 9th. Monness Crespi & Hardt cut Innospec from a “buy” rating to a “neutral” rating in a report on Thursday, November 9th. Finally, Johnson Rice raised Innospec from a “hold” rating to an “accumulate” rating in a report on Tuesday, November 14th.
In related news, insider Philip Curran sold 1,352 shares of Innospec stock in a transaction on Friday, November 24th. The stock was sold at an average price of $71.05, for a total transaction of $96,059.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Watt sold 440 shares of Innospec stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $70.17, for a total value of $30,874.80. Following the transaction, the vice president now directly owns 30,730 shares of the company’s stock, valued at $2,156,324.10. The disclosure for this sale can be found here. Insiders sold a total of 24,366 shares of company stock valued at $1,743,891 over the last three months. Insiders own 2.02% of the company’s stock.
Innospec (NASDAQ IOSP) opened at $71.20 on Wednesday. Innospec has a 12 month low of $54.10 and a 12 month high of $74.75. The firm has a market capitalization of $1,704.11, a P/E ratio of 19.72 and a beta of 1.21. The company has a quick ratio of 1.35, a current ratio of 2.24 and a debt-to-equity ratio of 0.30.
Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.15. The company had revenue of $332.40 million for the quarter, compared to the consensus estimate of $309.40 million. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The company’s revenue was up 61.8% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. equities research analysts predict that Innospec will post 4.3 earnings per share for the current fiscal year.
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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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