Innospec Inc. (NASDAQ:IOSP) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Monday.
Several other research analysts have also recently commented on IOSP. BidaskClub cut shares of Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research cut shares of Innospec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th.
Shares of Innospec (NASDAQ:IOSP) opened at 63.40 on Monday. Innospec has a 1-year low of $54.45 and a 1-year high of $74.75. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 19.45 and a beta of 1.15. The stock has a 50 day moving average price of $64.23 and a 200 day moving average price of $65.13.
Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Innospec had a net margin of 8.24% and a return on equity of 14.63%. Analysts forecast that Innospec will post $4.12 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in IOSP. SG Americas Securities LLC acquired a new position in shares of Innospec during the second quarter valued at approximately $106,000. Ameritas Investment Partners Inc. purchased a new position in shares of Innospec during the first quarter worth about $132,000. Victory Capital Management Inc. boosted its position in shares of Innospec by 18.1% in the first quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock worth $150,000 after buying an additional 354 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Innospec by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 2,660 shares of the specialty chemicals company’s stock worth $172,000 after buying an additional 70 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Innospec during the first quarter worth about $240,000. 90.52% of the stock is currently owned by institutional investors.
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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