Innophos (IPHS) Upgraded to Buy at BidaskClub

Innophos (NASDAQ:IPHS) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other analysts have also commented on IPHS. Zacks Investment Research lowered Innophos from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of Innophos in a report on Wednesday, November 1st.

Shares of Innophos (NASDAQ IPHS) traded down $0.04 during trading on Friday, hitting $46.93. The stock had a trading volume of 109,100 shares, compared to its average volume of 118,907. The company has a market capitalization of $910.83, a price-to-earnings ratio of 21.63 and a beta of 0.86. Innophos has a 12 month low of $41.66 and a 12 month high of $58.22. The company has a current ratio of 2.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.83.

Innophos (NASDAQ:IPHS) last issued its quarterly earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $179.33 million. Innophos had a return on equity of 13.90% and a net margin of 6.19%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. analysts expect that Innophos will post 2.5 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. raised its holdings in Innophos by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,141 shares of the specialty chemicals company’s stock worth $401,000 after acquiring an additional 24 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Innophos by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 14,962 shares of the specialty chemicals company’s stock worth $656,000 after acquiring an additional 130 shares in the last quarter. Texas Permanent School Fund raised its holdings in Innophos by 0.9% during the second quarter. Texas Permanent School Fund now owns 14,220 shares of the specialty chemicals company’s stock worth $623,000 after acquiring an additional 131 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Innophos by 5.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,824 shares of the specialty chemicals company’s stock worth $124,000 after acquiring an additional 157 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Innophos by 3.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,380 shares of the specialty chemicals company’s stock worth $279,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

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About Innophos

Innophos Holdings, Inc is a producer of nutritional specialty ingredients with applications in food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets. The Company also provides bioactive mineral and nutritional ingredients. The Company’s segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and Granular Triple Super Phosphate (GTSP) & Other.

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