Innospec (NASDAQ:IOSP) Raised to “Buy” at Wall Street Zen

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

A number of other analysts have also weighed in on IOSP. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Innospec Price Performance

IOSP stock opened at $84.25 on Friday. The stock has a 50-day simple moving average of $81.82 and a two-hundred day simple moving average of $78.93. Innospec has a twelve month low of $65.51 and a twelve month high of $92.14. The firm has a market capitalization of $2.08 billion, a PE ratio of 18.36, a PEG ratio of 2.32 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The firm had revenue of $453.20 million for the quarter, compared to the consensus estimate of $432.14 million. During the same period in the prior year, the firm posted $1.42 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Innospec will post 4.84 EPS for the current fiscal year.

Institutional Trading of Innospec

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in Innospec by 32.5% during the first quarter. NewEdge Advisors LLC now owns 8,625 shares of the specialty chemicals company’s stock valued at $630,000 after buying an additional 2,114 shares during the period. Amundi boosted its position in Innospec by 71.0% during the 1st quarter. Amundi now owns 8,875 shares of the specialty chemicals company’s stock valued at $648,000 after buying an additional 3,686 shares during the period. California State Teachers Retirement System grew its stake in shares of Innospec by 15.7% in the first quarter. California State Teachers Retirement System now owns 27,529 shares of the specialty chemicals company’s stock worth $2,010,000 after purchasing an additional 3,729 shares during the last quarter. Entropy Technologies LP grew its position in shares of Innospec by 33.3% in the 1st quarter. Entropy Technologies LP now owns 19,968 shares of the specialty chemicals company’s stock worth $1,458,000 after buying an additional 4,989 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Innospec by 196.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,497 shares of the specialty chemicals company’s stock valued at $1,351,000 after purchasing an additional 12,259 shares during the period. 96.64% of the stock is owned by institutional investors.

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.