Innophos (NASDAQ:IPHS) Upgraded at BidaskClub

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BidaskClub upgraded shares of Innophos (NASDAQ:IPHS) from a strong sell rating to a sell rating in a report published on Thursday, BidAskClub reports.

IPHS has been the topic of a number of other reports. TheStreet lowered shares of Innophos from a b- rating to a c+ rating in a research note on Thursday, May 23rd. Zacks Investment Research lowered shares of Innophos from a hold rating to a sell rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $31.00.

Shares of Innophos stock opened at $26.49 on Thursday. The company has a current ratio of 2.85, a quick ratio of 1.41 and a debt-to-equity ratio of 0.97. The firm’s 50-day moving average price is $27.54 and its 200 day moving average price is $29.75. Innophos has a twelve month low of $22.57 and a twelve month high of $46.65. The firm has a market capitalization of $512.56 million, a PE ratio of 12.28 and a beta of 1.43.

Innophos (NASDAQ:IPHS) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. Innophos had a net margin of 3.79% and a return on equity of 12.35%. The business had revenue of $185.04 million for the quarter, compared to analyst estimates of $196.55 million. During the same period last year, the company posted $0.55 EPS. The business’s revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts predict that Innophos will post 2.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 7.25%. Innophos’s dividend payout ratio is currently 84.21%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its holdings in shares of Innophos by 75.0% during the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 691 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Innophos by 14.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,708 shares of the specialty chemicals company’s stock worth $66,000 after buying an additional 334 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Innophos by 169.7% during the 2nd quarter. Bank of Montreal Can now owns 2,799 shares of the specialty chemicals company’s stock worth $80,000 after buying an additional 1,761 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Innophos during the 2nd quarter worth approximately $132,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in shares of Innophos by 353.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,403 shares of the specialty chemicals company’s stock worth $157,000 after buying an additional 4,991 shares during the last quarter. Institutional investors and hedge funds own 93.26% 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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