InnerWorkings, Inc. (NASDAQ:INWK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “INNERWORKINGS are a leading global provider of managed print and promotional procurement solutions to corporate clients. With proprietary technology, an extensive supplier network and domain expertise, they procure, manage and deliver printed products as part of a comprehensive outsourced enterprise solution. Their technology is designed to capitalize on excess manufacturing capacity and other inefficiencies in the traditional print supply chain to obtain favorable pricing and to deliver high quality products and services for our clients. “
A number of other brokerages also recently commented on INWK. BidaskClub downgraded shares of InnerWorkings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Barrington Research upped their target price on shares of InnerWorkings from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 10th. Finally, Wunderlich restated a “buy” rating and issued a $15.00 target price on shares of InnerWorkings in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $13.33.
Shares of InnerWorkings (INWK) traded down 0.14% during mid-day trading on Thursday, reaching $10.60. 306,858 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $11.50 and a 200 day moving average price of $10.52. InnerWorkings has a 12-month low of $8.07 and a 12-month high of $11.94. The firm has a market capitalization of $567.28 million, a price-to-earnings ratio of 30.81 and a beta of 1.59.
InnerWorkings (NASDAQ:INWK) last issued its earnings results on Monday, August 7th. The business services provider reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $279.53 million for the quarter, compared to the consensus estimate of $282.62 million. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. Analysts anticipate that InnerWorkings will post $0.48 EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in InnerWorkings by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,603,057 shares of the business services provider’s stock worth $45,846,000 after buying an additional 26,438 shares in the last quarter. Vanguard Group Inc. increased its position in InnerWorkings by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,509,465 shares of the business services provider’s stock worth $34,955,000 after buying an additional 173,364 shares in the last quarter. AMI Asset Management Corp increased its position in InnerWorkings by 2.9% in the second quarter. AMI Asset Management Corp now owns 1,178,285 shares of the business services provider’s stock worth $13,668,000 after buying an additional 33,274 shares in the last quarter. Eagle Boston Investment Management Inc. increased its position in InnerWorkings by 2.3% in the second quarter. Eagle Boston Investment Management Inc. now owns 1,099,398 shares of the business services provider’s stock worth $12,753,000 after buying an additional 24,889 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its position in InnerWorkings by 4.5% in the first quarter. Kennedy Capital Management Inc. now owns 744,494 shares of the business services provider’s stock worth $7,415,000 after buying an additional 32,325 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.
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