Analysts Set $69.00 Target Price for Innospec Inc. (IOSP)

Innospec Inc. (NASDAQ:IOSP) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Innospec’s rating score has declined by 19.8% from three months ago as a result of various analysts’ ratings changes.

Analysts have set a 12-month consensus target price of $69.00 for the company and are predicting that the company will post $0.85 earnings per share for the current quarter, according to Zacks. Zacks has also given Innospec an industry rank of 26 out of 265 based on the ratings given to its competitors.

Several research analysts have recently issued reports on IOSP shares. Monness Crespi & Hardt raised Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday. BidaskClub cut Innospec from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. ValuEngine cut Innospec from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research cut Innospec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th.

Shares of Innospec (NASDAQ:IOSP) traded down 0.35% during mid-day trading on Wednesday, reaching $56.60. 92,776 shares of the company’s stock traded hands. Innospec has a one year low of $54.45 and a one year high of $74.75. The firm’s 50-day moving average is $62.18 and its 200 day moving average is $64.12. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 18.02 and a beta of 1.15.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Innospec had a return on equity of 14.77% and a net margin of 7.22%. The company had revenue of $326.30 million during the quarter. Analysts predict that Innospec will post $4.28 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This report was first posted by [[site]] and is owned by of [[site]]. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at [[permalink]].

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Innospec by 29,556.5% in the first quarter. BlackRock Inc. now owns 2,971,282 shares of the specialty chemicals company’s stock valued at $192,389,000 after buying an additional 2,961,263 shares in the last quarter. Meritage Portfolio Management boosted its position in shares of Innospec by 1.3% in the first quarter. Meritage Portfolio Management now owns 41,235 shares of the specialty chemicals company’s stock valued at $2,670,000 after buying an additional 514 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Innospec by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,348,607 shares of the specialty chemicals company’s stock valued at $87,321,000 after buying an additional 23,252 shares in the last quarter. Emerald Advisers Inc. PA boosted its position in shares of Innospec by 4.2% in the second quarter. Emerald Advisers Inc. PA now owns 257,253 shares of the specialty chemicals company’s stock valued at $16,863,000 after buying an additional 10,317 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Innospec by 8.1% in the first quarter. State Street Corp now owns 569,505 shares of the specialty chemicals company’s stock valued at $36,873,000 after buying an additional 42,831 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

About Innospec

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.

Get a free copy of the Zacks research report on Innospec (IOSP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com