Innospec (NASDAQ:IOSP) Stock Rating Lowered by Zacks Research

Innospec (NASDAQ:IOSP) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also recently commented on IOSP. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Innospec Stock Down 1.7%

Shares of NASDAQ IOSP opened at $81.22 on Thursday. The business’s 50 day moving average price is $81.16 and its two-hundred day moving average price is $79.31. The company has a market cap of $2.01 billion, a PE ratio of 17.35 and a beta of 0.91. Innospec has a twelve month low of $70.10 and a twelve month high of $105.60.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.26 by $0.24. The company had revenue of $455.60 million during the quarter, compared to the consensus estimate of $460.87 million. Innospec had a return on equity of 10.18% and a net margin of 6.56%.The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. As a group, research analysts anticipate that Innospec will post 6.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Innospec during the second quarter worth $28,000. Versant Capital Management Inc increased its position in Innospec by 378.1% during the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 431 shares during the period. Hantz Financial Services Inc. raised its stake in Innospec by 271.0% in the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 420 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 487 shares in the last quarter. Finally, Allworth Financial LP boosted 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 during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

Innospec Company Profile

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.