Innospec (IOSP) Announces Quarterly Earnings Results

Innospec (NASDAQ:IOSP) announced its earnings results on Tuesday. The specialty chemicals company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.34, Bloomberg Earnings reports. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The business had revenue of $353.80 million for the quarter.

Shares of Innospec (NASDAQ:IOSP) traded up $0.55 on Wednesday, hitting $67.05. 68,800 shares of the stock traded hands, compared to its average volume of 85,752. Innospec has a 1-year low of $54.10 and a 1-year high of $74.75. The stock has a market capitalization of $1,605.15, a P/E ratio of 18.57 and a beta of 1.07. The company has a current ratio of 2.24, a quick ratio of 1.35 and a debt-to-equity ratio of 0.30.

Several equities research analysts have recently weighed in on IOSP shares. Zacks Investment Research downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. ValuEngine raised shares of Innospec from a “hold” rating to a “buy” 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. Monness Crespi & Hardt downgraded shares of Innospec from a “buy” rating to a “neutral” 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 assigned a hold rating and two have given a buy rating to the company’s stock. Innospec currently has a consensus rating of “Hold” and an average price target of $70.50.

In related news, insider Philip Curran sold 375 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $71.56, for a total value of $26,835.00. Following the transaction, the insider now owns 2,968 shares of the company’s stock, valued at approximately $212,390.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brian Watt sold 440 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $70.17, for a total transaction of $30,874.80. Following the completion of the transaction, the vice president now directly owns 30,730 shares in the company, valued at approximately $2,156,324.10. The disclosure for this sale can be found here. In the last three months, insiders sold 24,366 shares of company stock worth $1,743,891. Insiders own 2.02% 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.

Earnings History for Innospec (NASDAQ:IOSP)

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