Innospec (NASDAQ:IOSP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday.
According to Zacks, “Innospec Inc. is an international specialty chemicals company. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil & gas exploration and production industry. The Performance Chemicals business creates innovative technology-based solutions for the customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. Octane Additives produces octane improvers to enhance gasoline. “
IOSP has been the topic of a number of other reports. Monness Crespi & Hardt lowered Innospec from a “buy” rating to a “neutral” rating in a report on Thursday, November 9th. KeyCorp reissued an “overweight” rating on shares of Innospec in a report on Thursday, November 9th. ValuEngine raised Innospec from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. BidaskClub lowered Innospec from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Finally, Johnson Rice raised Innospec from a “hold” rating to an “accumulate” rating in a report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $70.50.
Shares of Innospec (IOSP) opened at $68.75 on Friday. The company has a quick ratio of 1.34, a current ratio of 2.15 and a debt-to-equity ratio of 0.26. Innospec has a 12 month low of $54.10 and a 12 month high of $74.30. The company has a market capitalization of $1,661.91, a PE ratio of 27.39 and a beta of 1.07.
Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.34. Innospec had a return on equity of 15.57% and a net margin of 4.73%. The company had revenue of $353.80 million during the quarter. equities research analysts predict that Innospec will post 4.3 EPS for the current year.
In related news, Director Milton C. Blackmore sold 977 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $73.67, for a total transaction of $71,975.59. Following the sale, the director now directly owns 6,977 shares of the company’s stock, valued at $513,995.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ian Cleminson sold 515 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $71.56, for a total value of $36,853.40. Following the sale, the chief financial officer now directly owns 28,878 shares in the company, valued at $2,066,509.68. The disclosure for this sale can be found here. Insiders sold 8,075 shares of company stock worth $578,194 over the last three months. Corporate insiders own 2.02% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. acquired a new stake in Innospec during the fourth quarter worth about $142,000. Xact Kapitalforvaltning AB acquired a new stake in Innospec during the fourth quarter worth about $222,000. Amalgamated Bank acquired a new stake in Innospec during the fourth quarter worth about $245,000. Victory Capital Management Inc. grew its holdings in Innospec by 33.4% during the third quarter. Victory Capital Management Inc. now owns 3,629 shares of the specialty chemicals company’s stock worth $224,000 after acquiring an additional 909 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Innospec during the fourth quarter worth about $258,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
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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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