Innospec (NASDAQ:IOSP) Upgraded to “Hold (C-)” at Weiss Ratings

Innospec (NASDAQ:IOSP) was upgraded by Weiss Ratings from a “sell (d+)” rating to a “hold (c-)” rating in a research note issued on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently weighed in on IOSP. Wall Street Zen cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Innospec Stock Up 0.5%

Innospec stock opened at $78.50 on Wednesday. Innospec has a 52 week low of $74.10 and a 52 week high of $128.35. The business’s 50-day moving average price is $82.03 and its 200 day moving average price is $85.70. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 100.64 and a beta of 1.04.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The business had revenue of $439.70 million for the quarter, compared to analyst estimates of $440.70 million. During the same quarter in the prior year, the firm posted $1.39 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts expect that Innospec will post 6.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IOSP. Rhumbline Advisers raised its holdings in shares of Innospec by 9.3% during the first quarter. Rhumbline Advisers now owns 77,760 shares of the specialty chemicals company’s stock valued at $7,368,000 after acquiring an additional 6,602 shares during the last quarter. Kirr Marbach & Co. LLC IN increased its position in shares of Innospec by 1.8% during the first quarter. Kirr Marbach & Co. LLC IN now owns 79,066 shares of the specialty chemicals company’s stock worth $7,492,000 after purchasing an additional 1,370 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Innospec by 0.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,404,825 shares of the specialty chemicals company’s stock worth $227,352,000 after purchasing an additional 19,018 shares in the last quarter. Tsfg LLC purchased a new stake in shares of Innospec during the first quarter worth approximately $35,000. Finally, ZWJ Investment Counsel Inc. boosted its stake in Innospec by 6.6% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 46,311 shares of the specialty chemicals company’s stock worth $4,388,000 after purchasing an additional 2,885 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.