Innospec (IOSP) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Innospec (NASDAQ:IOSP) from a sell rating to a hold rating in a research note released on Wednesday morning.

Other analysts have also issued research reports about the stock. Johnson Rice upgraded shares of Innospec from a hold rating to an accumulate rating in a research report on Tuesday, November 14th. Monness Crespi & Hardt lowered shares of Innospec from a buy rating to a neutral rating in a research report on Thursday, November 9th. KeyCorp restated an overweight rating on shares of Innospec in a research report on Thursday, November 9th. ValuEngine upgraded shares of Innospec from a hold rating to a buy rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of Innospec from a buy rating to a hold rating in a report on Wednesday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Innospec presently has a consensus rating of Buy and a consensus target price of $70.50.

Shares of Innospec (NASDAQ IOSP) opened at $70.05 on Wednesday. The company has a market cap of $1,690.00, a P/E ratio of 19.35 and a beta of 1.20. Innospec has a 1 year low of $54.10 and a 1 year high of $74.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.24 and a quick ratio of 1.35.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.15. Innospec had a net margin of 7.01% and a return on equity of 12.88%. The firm had revenue of $332.40 million for the quarter, compared to analyst estimates of $309.40 million. During the same quarter last year, the business earned $0.78 earnings per share. Innospec’s revenue was up 61.8% compared to the same quarter last year. sell-side analysts predict that Innospec will post 4.3 EPS for the current fiscal year.

In other Innospec news, VP Brian Watt sold 440 shares of Innospec stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $70.17, for a total value of $30,874.80. Following the transaction, the vice president now owns 30,730 shares in the company, valued at approximately $2,156,324.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Williams sold 15,000 shares of Innospec stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $71.49, for a total transaction of $1,072,350.00. Following the completion of the transaction, the chief executive officer now owns 174,242 shares in the company, valued at approximately $12,456,560.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,366 shares of company stock worth $1,743,891. 2.02% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Innospec by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 361,036 shares of the specialty chemicals company’s stock valued at $23,666,000 after acquiring an additional 5,661 shares during the period. BlackRock Inc. raised its stake in shares of Innospec by 2.4% in the 2nd quarter. BlackRock Inc. now owns 3,041,897 shares of the specialty chemicals company’s stock valued at $199,396,000 after acquiring an additional 70,615 shares during the period. Mondrian Investment Partners LTD raised its stake in shares of Innospec by 22.2% in the 3rd quarter. Mondrian Investment Partners LTD now owns 82,307 shares of the specialty chemicals company’s stock valued at $5,074,000 after acquiring an additional 14,942 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Innospec in the 2nd quarter valued at $9,334,000. Finally, Ramsey Quantitative Systems purchased a new stake in Innospec during the 2nd quarter worth $309,000. 91.18% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Innospec (IOSP) Upgraded by BidaskClub to “Hold”” was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this story on another site, it was illegally stolen and reposted in violation of international copyright and trademark legislation. The original version of this story can be viewed at https://www.com-unik.info/2017/12/28/innospec-iosp-upgraded-by-bidaskclub-to-hold-2.html.

About Innospec

Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit