Zacks Investment Research Lowers Innophos (NASDAQ:IPHS) to Sell

Innophos (NASDAQ:IPHS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.

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 brokerages have also issued reports on IPHS. ValuEngine lowered shares of Innophos from a “sell” rating to a “strong sell” rating in a research note on Wednesday. BidaskClub lowered shares of Innophos from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Three analysts have rated the stock with a sell rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.00.

Shares of IPHS stock opened at $32.00 on Friday. The business’s fifty day moving average is $32.35 and its 200 day moving average is $29.65. The company has a quick ratio of 1.48, a current ratio of 2.94 and a debt-to-equity ratio of 1.01. The stock has a market cap of $628.14 million, a price-to-earnings ratio of 14.04 and a beta of 1.43. Innophos has a twelve month low of $22.57 and a twelve month high of $37.53.

Innophos (NASDAQ:IPHS) last announced its quarterly earnings data on Wednesday, November 6th. The specialty chemicals company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). Innophos had a net margin of 2.82% and a return on equity of 11.56%. The firm had revenue of $189.00 million for the quarter, compared to analysts’ expectations of $185.55 million. During the same period in the prior year, the business posted $0.58 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts expect that Innophos will post 2.05 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Foundry Partners LLC bought a new stake in Innophos in the third quarter worth $4,417,000. Renaissance Technologies LLC raised its position in shares of Innophos by 14.8% in the 2nd quarter. Renaissance Technologies LLC now owns 867,700 shares of the specialty chemicals company’s stock worth $25,259,000 after purchasing an additional 111,900 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Innophos in the 2nd quarter worth about $2,197,000. Vanguard Group Inc. boosted its stake in Innophos by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,160,323 shares of the specialty chemicals company’s stock worth $62,887,000 after purchasing an additional 42,356 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Innophos by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 545,798 shares of the specialty chemicals company’s stock worth $15,888,000 after purchasing an additional 37,042 shares in the last quarter. Institutional investors own 92.39% 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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