Innospec (NASDAQ:IOSP) Cut to Hold at Wall Street Zen

Innospec (NASDAQ:IOSP) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Innospec Stock Performance

NASDAQ:IOSP opened at $82.63 on Friday. Innospec has a one year low of $65.51 and a one year high of $92.14. The firm has a market cap of $2.04 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.30 and a beta of 0.92. The firm has a 50-day simple moving average of $80.15 and a 200-day simple moving average of $78.48.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $453.20 million during the quarter, compared to the consensus estimate of $432.14 million. Innospec had a net margin of 6.38% and a return on equity of 9.32%. Innospec’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 earnings per share. On average, research analysts predict that Innospec will post 4.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Innospec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in Innospec by 31.0% in the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares in the last quarter. State of Wyoming boosted its holdings in Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 173 shares during the last quarter. California State Teachers Retirement System grew its position in Innospec by 0.8% in the second quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock worth $1,939,000 after acquiring an additional 179 shares during the period. Franklin Resources Inc. increased its position in shares of Innospec by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company’s stock worth $2,150,000 after purchasing an additional 196 shares during the last quarter. Finally, Amundi increased its position in shares of Innospec by 5.0% during the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock valued at $354,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.