Monness Crespi & Hardt upgraded shares of Innospec Inc. (NASDAQ:IOSP) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat.com reports. Monness Crespi & Hardt currently has $65.00 price objective on the specialty chemicals company’s stock.
Several other analysts also recently commented on the stock. BidaskClub downgraded shares of Innospec from a hold rating to a sell rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of Innospec from a hold rating to a strong-buy rating and set a $73.00 price objective for the company in a research report on Tuesday, May 16th. Finally, ValuEngine downgraded shares of Innospec from a buy rating to a hold rating in a research report on Monday, August 7th.
Shares of Innospec (NASDAQ IOSP) opened at 56.95 on Tuesday. The company has a market capitalization of $1.37 billion, a PE ratio of 18.13 and a beta of 1.15. Innospec has a one year low of $54.45 and a one year high of $74.75. The company’s 50-day moving average is $61.53 and its 200-day moving average is $63.92.
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 consensus estimate of $1.08 by $0.08. The firm had revenue of $326.30 million during the quarter. Innospec had a net margin of 7.22% and a return on equity of 14.77%. Equities analysts predict that Innospec will post $4.28 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake 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 during the period. Lazard Asset Management LLC increased its stake in Innospec by 221.5% in the first quarter. Lazard Asset Management LLC now owns 529,340 shares of the specialty chemicals company’s stock valued at $34,274,000 after buying an additional 364,676 shares during the last quarter. Principal Financial Group Inc. increased its stake in Innospec by 115.7% in the second quarter. Principal Financial Group Inc. now owns 424,284 shares of the specialty chemicals company’s stock valued at $27,812,000 after buying an additional 227,605 shares during the last quarter. Wells Fargo & Company MN increased its stake in Innospec by 24.1% in the first quarter. Wells Fargo & Company MN now owns 892,271 shares of the specialty chemicals company’s stock valued at $57,776,000 after buying an additional 173,286 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Innospec by 157.4% in the first quarter. Renaissance Technologies LLC now owns 248,100 shares of the specialty chemicals company’s stock valued at $16,064,000 after buying an additional 151,700 shares during the last quarter. 91.53% of the stock is 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.
Receive News & Ratings for Innospec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
