Innospec (IOSP) Rating Lowered to Sell at BidaskClub

Innospec (NASDAQ:IOSP) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other brokerages have also recently issued reports on IOSP. Zacks Investment Research cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Monness Crespi & Hardt cut shares of Innospec from a “buy” rating to a “neutral” rating in a research note on Thursday, November 9th. KeyCorp reissued an “overweight” rating on shares of Innospec in a research note on Thursday, November 9th. ValuEngine raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, Johnson Rice raised shares of Innospec from a “hold” rating to an “accumulate” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $70.50.

Shares of Innospec (NASDAQ IOSP) opened at $73.55 on Thursday. The company has a market cap of $1,782.56, a P/E ratio of 20.37 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 has a 12 month low of $54.10 and a 12 month high of $74.75.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.15. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The firm had revenue of $332.40 million during the quarter, compared to analysts’ expectations of $309.40 million. During the same period in the previous year, the company earned $0.78 EPS. Innospec’s revenue for the quarter was up 61.8% on a year-over-year basis. equities analysts anticipate that Innospec will post 4.3 earnings per share for the current fiscal year.

In related news, insider Philip Curran sold 375 shares of Innospec stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $71.56, for a total transaction of $26,835.00. Following the transaction, the insider now owns 2,968 shares in the company, valued at approximately $212,390.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Milton C. Blackmore sold 977 shares of Innospec stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $73.67, for a total transaction of $71,975.59. Following the transaction, the director now owns 6,977 shares in the company, valued at approximately $513,995.59. The disclosure for this sale can be found here. Insiders have sold a total of 24,366 shares of company stock worth $1,743,891 in the last 90 days. Company insiders own 2.02% of the company’s stock.

Several large investors have recently bought and sold shares of IOSP. SG Americas Securities LLC acquired a new position in shares of Innospec during the 2nd quarter valued at $106,000. Pinebridge Investments L.P. lifted its holdings in shares of Innospec by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock valued at $209,000 after acquiring an additional 41 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Innospec by 1.8% during the 2nd quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 57 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Innospec by 33.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,629 shares of the specialty chemicals company’s stock valued at $224,000 after acquiring an additional 909 shares in the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in shares of Innospec by 4.0% during the 2nd quarter. Suntrust Banks Inc. now owns 3,996 shares of the specialty chemicals company’s stock valued at $261,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.

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Innospec Company Profile

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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