Innospec Inc. (NASDAQ:IOSP) has earned an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $86.00.
Several research analysts have commented on IOSP shares. Johnson Rice upgraded shares of Innospec from an “accumulate” rating to a “buy” rating in a report on Tuesday, April 24th. Zacks Investment Research upgraded shares of Innospec from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Friday, May 18th. ValuEngine lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. BidaskClub lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. Finally, KeyCorp increased their price target on shares of Innospec from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, July 13th.
Shares of IOSP opened at $75.95 on Thursday. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 16.30 and a beta of 1.06. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.34. Innospec has a twelve month low of $54.10 and a twelve month high of $83.20.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, August 7th. The specialty chemicals company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.05). Innospec had a return on equity of 13.83% and a net margin of 4.45%. The company had revenue of $358.10 million during the quarter. equities research analysts forecast that Innospec will post 4.5 EPS for the current fiscal year.
In other Innospec news, VP Brian Watt sold 3,500 shares of the firm’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $75.32, for a total transaction of $263,620.00. Following the completion of the sale, the vice president now directly owns 26,349 shares in the company, valued at approximately $1,984,606.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hugh Aldous sold 1,687 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $76.72, for a total transaction of $129,426.64. Following the sale, the director now owns 20,705 shares of the company’s stock, valued at $1,588,487.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,841 shares of company stock valued at $1,062,397. 2.22% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in IOSP. Xact Kapitalforvaltning AB bought a new stake in Innospec during the 4th quarter valued at about $222,000. Wasatch Advisors Inc. boosted its holdings in shares of Innospec by 6.0% during the 1st quarter. Wasatch Advisors Inc. now owns 206,751 shares of the specialty chemicals company’s stock valued at $14,183,000 after acquiring an additional 11,754 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Innospec by 4.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,134,315 shares of the specialty chemicals company’s stock valued at $77,815,000 after acquiring an additional 48,893 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Innospec by 1.6% during the 1st quarter. Rhumbline Advisers now owns 59,547 shares of the specialty chemicals company’s stock valued at $4,085,000 after acquiring an additional 922 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Innospec by 3.2% during the 1st quarter. Comerica Bank now owns 25,595 shares of the specialty chemicals company’s stock valued at $1,862,000 after acquiring an additional 791 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.
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