Innophos (IPHS) Cut to “Sell” at BidaskClub

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Innophos (NASDAQ:IPHS) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday, BidAskClub reports.

A number of other research firms also recently issued reports on IPHS. TheStreet raised Innophos from a “c” rating to a “b-” rating in a research report on Thursday, February 21st. Zacks Investment Research raised Innophos from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine raised Innophos from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Finally, Seaport Global Securities started coverage on Innophos in a research report on Thursday, February 21st. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold”.

IPHS stock traded down $0.98 during trading on Monday, reaching $28.22. 79,000 shares of the stock traded hands, compared to its average volume of 109,878. Innophos has a 52-week low of $22.57 and a 52-week high of $50.40. The company has a current ratio of 3.14, a quick ratio of 1.49 and a debt-to-equity ratio of 0.95. The company has a market cap of $574.36 million, a PE ratio of 12.38 and a beta of 1.33.

Innophos (NASDAQ:IPHS) last posted its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.14. Innophos had a return on equity of 13.09% and a net margin of 4.30%. The firm had revenue of $191.41 million during the quarter, compared to the consensus estimate of $199.90 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. Equities analysts forecast that Innophos will post 2.36 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of IPHS. Bank of New York Mellon Corp raised its holdings in shares of Innophos by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 402,003 shares of the specialty chemicals company’s stock valued at $17,849,000 after acquiring an additional 14,662 shares in the last quarter. Legal & General Group Plc raised its holdings in Innophos by 8.1% in the third quarter. Legal & General Group Plc now owns 46,282 shares of the specialty chemicals company’s stock worth $2,049,000 after purchasing an additional 3,457 shares in the last quarter. Morgan Stanley raised its holdings in Innophos by 31.5% in the third quarter. Morgan Stanley now owns 101,185 shares of the specialty chemicals company’s stock worth $4,493,000 after purchasing an additional 24,241 shares in the last quarter. Vanguard Group Inc. raised its holdings in Innophos by 2.0% in the third quarter. Vanguard Group Inc. now owns 2,065,439 shares of the specialty chemicals company’s stock worth $91,705,000 after purchasing an additional 41,101 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in Innophos by 4.3% in the third quarter. Teachers Advisors LLC now owns 37,859 shares of the specialty chemicals company’s stock worth $1,681,000 after purchasing an additional 1,550 shares in the last quarter. 91.18% of the stock is owned by institutional investors.

Innophos Company Profile

Innophos Holdings, Inc, together with its subsidiaries, produces specialty ingredients with applications in food, health, nutrition, and industrial markets. It operates through three segments: Food, Health and Nutrition; Industrial Specialties; and Other. The company's specialty ingredients include specialty phosphate salts and specialty phosphoric acids, as well as other mineral, enzyme, and botanical based specialty ingredients that are used as flavor enhancers in beverages; electrolytes in sports drinks; texture modifiers in cheeses; leavening agents in baked goods; calcium and phosphorus fortification in food and beverages; moisture and color retention in seafood, poultry, and meat; excipients in vitamins, minerals, nutritional supplements, and pharmaceuticals; and abrasives in toothpaste.

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