Innospec (NASDAQ:IOSP) Upgraded by Wall Street Zen to Buy Rating

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

Other research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Innospec Stock Down 1.4%

IOSP opened at $84.25 on Friday. The company has a market cap of $2.08 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 2.36 and a beta of 0.93. The firm’s 50-day moving average price is $81.82 and its 200-day moving average price is $78.93. Innospec has a 52-week low of $65.51 and a 52-week high of $92.14.

Innospec (NASDAQ:IOSP) last released its earnings results 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 analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $1.42 EPS. On average, research analysts anticipate that Innospec will post 4.84 EPS for the current fiscal year.

Institutional Trading of Innospec

Several institutional investors and hedge funds have recently bought and sold shares of IOSP. EverSource Wealth Advisors LLC increased its stake in shares of Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 487 shares during the period. Hantz Financial Services Inc. lifted its position in Innospec by 271.0% during the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 420 shares during the period. Allworth Financial LP lifted its position in Innospec by 31.0% during the third 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 during the period. Danske Bank A S purchased a new stake in Innospec in the third quarter valued at $46,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Innospec by 316.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock valued at $51,000 after purchasing an additional 503 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.