Innospec (IOSP) Stock Rating Lowered by BidaskClub

Innospec (NASDAQ:IOSP) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

A number of other research firms have also commented on IOSP. Zacks Investment Research raised Innospec from a “hold” rating to a “strong-buy” rating and set a $94.00 price objective on the stock in a research note on Friday, March 1st. KeyCorp reduced their price objective on Innospec from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Finally, ValuEngine lowered Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $88.50.

Innospec stock opened at $82.65 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 17.11 and a beta of 1.33. Innospec has a 52 week low of $53.07 and a 52 week high of $86.53.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 19th. The specialty chemicals company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.27. The company had revenue of $395.00 million for the quarter. Innospec had a return on equity of 14.34% and a net margin of 5.76%. Research analysts anticipate that Innospec will post 5 earnings per share for the current year.

In other news, VP Catherine Hessner sold 4,289 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $80.51, for a total transaction of $345,307.39. Following the transaction, the vice president now owns 25,145 shares of the company’s stock, valued at $2,024,423.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Williams sold 3,362 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $80.51, for a total value of $270,674.62. Following the transaction, the chief executive officer now directly owns 204,834 shares in the company, valued at approximately $16,491,185.34. The disclosure for this sale can be found here. Insiders have sold 28,984 shares of company stock worth $2,382,501 in the last ninety days. 2.22% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Innospec by 1.8% during the fourth quarter. BlackRock Inc. now owns 3,993,716 shares of the specialty chemicals company’s stock valued at $246,650,000 after acquiring an additional 72,441 shares during the period. FMR LLC lifted its stake in shares of Innospec by 6.2% during the fourth quarter. FMR LLC now owns 3,659,994 shares of the specialty chemicals company’s stock valued at $226,042,000 after acquiring an additional 214,162 shares during the period. Vanguard Group Inc. lifted its stake in shares of Innospec by 1.5% during the third quarter. Vanguard Group Inc. now owns 2,480,415 shares of the specialty chemicals company’s stock valued at $190,371,000 after acquiring an additional 36,453 shares during the period. Vanguard Group Inc lifted its stake in shares of Innospec by 1.5% during the third quarter. Vanguard Group Inc now owns 2,480,415 shares of the specialty chemicals company’s stock valued at $190,371,000 after acquiring an additional 36,453 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Innospec by 3.6% during the third quarter. Bank of New York Mellon Corp now owns 351,777 shares of the specialty chemicals company’s stock valued at $26,999,000 after acquiring an additional 12,101 shares during the period. 93.00% of the stock is currently owned by institutional investors and hedge funds.

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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