Innophos (NASDAQ:IPHS) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Innophos (NASDAQ:IPHS) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $31.00 target price on the specialty chemicals company’s stock.

According to Zacks, “Innophos, Inc., is one of the leading North American manufacturers of specialty phosphates, serving a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos’ market-leading positions derive from its experience and dedication to customer service and innovation. “

Several other analysts have also recently commented on the company. BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a research report on Friday, June 28th. TheStreet cut ZovioInc . from a c- rating to a d rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $31.00.

Shares of IPHS opened at $27.69 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.14 and a quick ratio of 1.49. Innophos has a one year low of $22.57 and a one year high of $50.40. The stock has a market capitalization of $544.66 million, a PE ratio of 12.36 and a beta of 1.41. The stock’s 50 day moving average price is $27.84.

Innophos (NASDAQ:IPHS) last issued its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $199.90 million. During the same period in the previous year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts predict that Innophos will post 2.36 EPS for the current year.

Large investors have recently modified their holdings of the business. Versant Capital Management Inc grew its holdings in Innophos by 75.0% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 691 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Innophos by 14.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,708 shares of the specialty chemicals company’s stock valued at $66,000 after buying an additional 334 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Innophos by 353.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,403 shares of the specialty chemicals company’s stock valued at $157,000 after buying an additional 4,991 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Innophos by 87.6% in 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. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Innophos in the 1st quarter valued at $203,000. Institutional investors own 93.43% 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.

Featured Article: Net Margin – Understanding the Different Kinds of Profit

Get a free copy of the Zacks research report on Innophos (IPHS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Innophos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innophos and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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