Innophos (NASDAQ:IPHS) Upgraded by BidaskClub to Buy

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BidaskClub upgraded shares of Innophos (NASDAQ:IPHS) from a hold rating to a buy rating in a research report report published on Thursday, BidAskClub reports.

IPHS has been the topic of several other reports. ValuEngine raised Innophos from a sell rating to a hold rating in a research report on Saturday, September 14th. Zacks Investment Research downgraded Innophos from a hold rating to a sell rating in a research note on Friday, August 9th. Finally, TheStreet downgraded Innophos from a b- rating to a c+ rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Innophos presently has an average rating of Hold and a consensus price target of $31.00.

Shares of NASDAQ:IPHS opened at $34.32 on Thursday. The business’s 50-day moving average is $28.30 and its 200 day moving average is $29.34. Innophos has a 1 year low of $22.57 and a 1 year high of $46.65. The firm has a market capitalization of $668.32 million, a P/E ratio of 15.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.85 and a quick ratio of 1.41.

Innophos (NASDAQ:IPHS) last announced its earnings results on Tuesday, August 6th. The specialty chemicals company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Innophos had a return on equity of 12.35% and a net margin of 3.79%. The company had revenue of $185.04 million for the quarter, compared to analyst estimates of $196.55 million. During the same period in the prior year, the company posted $0.55 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, analysts expect that Innophos will post 2.18 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.48 per share. The ex-dividend date was Thursday, August 22nd. This represents a $1.92 annualized dividend and a yield of 5.59%. Innophos’s payout ratio is presently 84.21%.

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can grew its stake in Innophos by 169.7% during the 2nd quarter. Bank of Montreal Can now owns 2,799 shares of the specialty chemicals company’s stock valued at $80,000 after purchasing an additional 1,761 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Innophos during the 2nd quarter valued at about $132,000. BNP Paribas Arbitrage SA grew its stake in Innophos by 87.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,504 shares of the specialty chemicals company’s stock valued at $166,000 after purchasing an additional 2,570 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Innophos during the 1st quarter valued at about $203,000. Finally, Laurion Capital Management LP purchased a new stake in Innophos during the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 93.47% of the company’s stock.

About Innophos

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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