Innospec (NASDAQ:IOSP) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Innospec (NASDAQ:IOSP) from a sell rating to a hold rating in a research note issued to investors on Wednesday, December 27th.

A number of other brokerages also recently issued reports on IOSP. Monness Crespi & Hardt downgraded shares of Innospec from a buy rating to a neutral rating in a research report on Thursday, November 9th. KeyCorp reiterated 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 note on Thursday, November 9th. Johnson Rice upgraded shares of Innospec from a hold rating to an accumulate rating in a research note on Tuesday, November 14th. Finally, Zacks Investment Research upgraded shares of Innospec from a hold rating to a buy rating and set a $76.00 price target for the company in a research report on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Innospec has a consensus rating of Hold and an average price target of $70.50.

Shares of Innospec (NASDAQ:IOSP) opened at $73.20 on Wednesday. The stock has a market cap of $1,766.90, a P/E ratio of 20.28 and a beta of 1.21. The company has a current ratio of 2.24, a quick ratio of 1.35 and a debt-to-equity ratio of 0.30. Innospec has a 1-year low of $54.10 and a 1-year high of $74.75.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.15. The firm had revenue of $332.40 million for the quarter, compared to analyst estimates of $309.40 million. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The company’s revenue for the quarter was up 61.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. research analysts anticipate that Innospec will post 4.3 earnings per share for the current fiscal year.

In related news, insider Philip Curran sold 1,352 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $71.05, for a total value of $96,059.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian Watt sold 440 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $70.17, for a total value of $30,874.80. Following the completion of the sale, the vice president now directly owns 30,730 shares of the company’s stock, valued at approximately $2,156,324.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,366 shares of company stock worth $1,743,891. Insiders own 2.02% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. American Century Companies Inc. raised its position 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 worth $23,666,000 after purchasing an additional 5,661 shares during the last quarter. BlackRock Inc. raised its position 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 worth $199,396,000 after purchasing an additional 70,615 shares during the last quarter. Mondrian Investment Partners LTD raised its position 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 worth $5,074,000 after purchasing an additional 14,942 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Innospec in the 2nd quarter worth about $9,334,000. Finally, Ramsey Quantitative Systems purchased a new position in shares of Innospec in the 2nd quarter worth about $309,000. 91.18% of the stock is owned by institutional investors and hedge funds.

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Innospec Company Profile

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.

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