Innophos (NASDAQ:IPHS) Cut to Strong Sell at BidaskClub

BidaskClub cut shares of Innophos (NASDAQ:IPHS) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning, BidAskClub reports.

Several other research firms have also commented on IPHS. Zacks Investment Research raised Innophos from a sell rating to a hold rating in a research report on Wednesday, January 1st. ValuEngine lowered Innophos from a sell rating to a strong sell rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. Innophos has a consensus rating of Hold and an average target price of $36.00.

Shares of NASDAQ IPHS opened at $31.93 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.94. Innophos has a fifty-two week low of $23.85 and a fifty-two week high of $37.53. The firm has a market capitalization of $628.53 million, a PE ratio of 14.00 and a beta of 1.44. The stock’s 50-day simple moving average is $31.92 and its 200-day simple moving average is $30.50.

Innophos (NASDAQ:IPHS) last released its quarterly earnings results on Wednesday, November 6th. The specialty chemicals company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.10). The firm had revenue of $189.00 million for the quarter, compared to analyst estimates of $185.55 million. Innophos had a return on equity of 11.56% and a net margin of 2.82%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. On average, sell-side analysts forecast that Innophos will post 2.05 earnings per share for the current fiscal year.

In other Innophos news, Director John M. Steitz sold 12,625 shares of Innophos stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.86, for a total transaction of $402,232.50. Following the transaction, the director now owns 18,103 shares of the company’s stock, valued at $576,761.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in Innophos by 55.9% during the third quarter. Versant Capital Management Inc now owns 1,037 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 372 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Innophos by 471.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,384 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 1,142 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Innophos by 470.0% in the third quarter. Meeder Asset Management Inc. now owns 1,499 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 1,236 shares during the period. Bank of Montreal Can increased its holdings in shares of Innophos by 169.7% in the second quarter. Bank of Montreal Can now owns 2,799 shares of the specialty chemicals company’s stock valued at $80,000 after purchasing an additional 1,761 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Innophos by 303.0% in the third quarter. Quadrant Capital Group LLC now owns 3,087 shares of the specialty chemicals company’s stock valued at $98,000 after purchasing an additional 2,321 shares during the period. 92.38% of the stock is currently owned by institutional investors.

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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