ValuEngine lowered shares of Innospec (NASDAQ:IOSP) from a buy rating to a hold rating in a report issued on Friday morning.
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Innospec from a buy rating to a hold rating in a research report on Saturday, August 4th. Zacks Investment Research upgraded shares of Innospec from a sell rating to a hold rating in a research report on Wednesday, September 19th. Finally, KeyCorp upped their price objective on shares of Innospec from $80.00 to $86.00 and gave the stock an overweight rating in a research report on Friday, July 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $85.50.
NASDAQ:IOSP traded down $0.71 during midday trading on Friday, hitting $66.98. The company had a trading volume of 64,061 shares, compared to its average volume of 102,270. Innospec has a 52-week low of $60.50 and a 52-week high of $83.20. The firm has a market capitalization of $1.87 billion, a PE ratio of 14.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.34 and a current ratio of 2.28.
Institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new position in shares of Innospec during the second quarter worth approximately $116,000. Burney Co. bought a new stake in Innospec in the 2nd quarter valued at $207,000. First Citizens Bank & Trust Co. bought a new stake in Innospec in the 2nd quarter valued at $210,000. UBS Group AG increased its holdings in Innospec by 69.3% in the 1st quarter. UBS Group AG now owns 2,771 shares of the specialty chemicals company’s stock valued at $190,000 after acquiring an additional 1,134 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in Innospec in the 2nd quarter valued at $218,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.
Read More: Understanding Analyst Recommendations
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with MarketBeat.com's FREE daily email newsletter.