Shares of Innospec Inc. (NASDAQ:IOSP) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation. Innospec’s rating score has improved by 50% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a one year consensus price objective of $62.67 for the company and are predicting that the company will post $0.80 earnings per share for the current quarter, according to Zacks. Zacks has also given Innospec an industry rank of 70 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently commented on IOSP. Zacks Investment Research lowered Innospec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 5th. CJS Securities upgraded Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a report on Friday, August 5th. Finally, Monness Crespi & Hardt upgraded Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, August 4th.
Shares of Innospec (NASDAQ:IOSP) traded up 0.99% on Monday, hitting $62.00. The stock had a trading volume of 14,506 shares. The stock has a market capitalization of $1.49 billion, a PE ratio of 13.21 and a beta of 1.49. The firm’s 50 day moving average is $59.74 and its 200-day moving average is $52.01. Innospec has a one year low of $41.61 and a one year high of $62.33.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. The company had revenue of $228 million for the quarter, compared to analyst estimates of $230.30 million. Innospec had a return on equity of 17.55% and a net margin of 12.22%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 earnings per share. Equities research analysts expect that Innospec will post $3.66 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC raised its stake in Innospec by 3.9% in the first quarter. TIAA CREF Investment Management LLC now owns 112,148 shares of the company’s stock valued at $4,863,000 after buying an additional 4,223 shares during the last quarter. Hancock Holding Co. increased its position in shares of Innospec by 15.0% in the first quarter. Hancock Holding Co. now owns 18,400 shares of the company’s stock worth $798,000 after buying an additional 2,400 shares during the period. Swiss National Bank increased its position in shares of Innospec by 1.3% in the second quarter. Swiss National Bank now owns 39,903 shares of the company’s stock worth $1,835,000 after buying an additional 500 shares during the period. GSA Capital Partners LLP increased its position in shares of Innospec by 206.2% in the second quarter. GSA Capital Partners LLP now owns 24,524 shares of the company’s stock worth $1,128,000 after buying an additional 16,516 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Innospec by 104.9% in the second quarter. BNP Paribas Arbitrage SA now owns 7,791 shares of the company’s stock worth $358,000 after buying an additional 3,988 shares during the period. Institutional investors and hedge funds own 88.69% of the company’s stock.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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