Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Innospec from a buy rating to a hold rating in a research note on Saturday, July 13th. CL King began coverage on shares of Innospec in a research note on Wednesday, September 4th. They issued a buy rating and a $95.00 target price for the company. Finally, ValuEngine cut shares of Innospec from a buy rating to a hold rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $90.67.
Shares of IOSP opened at $91.41 on Wednesday. The company’s 50 day moving average price is $87.57 and its 200 day moving average price is $86.22. Innospec has a 52 week low of $53.07 and a 52 week high of $97.18. The company has a market capitalization of $2.32 billion, a PE ratio of 18.28 and a beta of 1.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.32 and a current ratio of 2.14.
Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.02. The firm had revenue of $362.40 million during the quarter, compared to analysts’ expectations of $371.20 million. Innospec had a net margin of 6.10% and a return on equity of 15.11%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share.
In other Innospec news, VP Brian Watt sold 3,000 shares of Innospec stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $84.16, for a total value of $252,480.00. Following the completion of the sale, the vice president now directly owns 27,888 shares in the company, valued at $2,347,054.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.62% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of IOSP. Geode Capital Management LLC lifted its stake in shares of Innospec by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 281,594 shares of the specialty chemicals company’s stock worth $17,391,000 after buying an additional 19,803 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Innospec by 1.3% in the first quarter. Rhumbline Advisers now owns 74,319 shares of the specialty chemicals company’s stock worth $6,194,000 after buying an additional 961 shares during the last quarter. Comerica Bank lifted its stake in shares of Innospec by 1.6% in the first quarter. Comerica Bank now owns 24,115 shares of the specialty chemicals company’s stock worth $2,050,000 after buying an additional 371 shares during the last quarter. Texas Permanent School Fund lifted its stake in shares of Innospec by 3.8% in the first quarter. Texas Permanent School Fund now owns 16,590 shares of the specialty chemicals company’s stock worth $1,383,000 after buying an additional 607 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Innospec in the first quarter worth $350,000. Institutional investors and hedge funds own 93.24% of the company’s stock.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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