Innospec (IOSP) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Innospec (NASDAQ:IOSP) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Innospec from a sell rating to a hold rating in a research report on Wednesday, October 10th. BidaskClub lowered Innospec from a buy rating to a hold rating in a research report on Saturday, August 4th. Finally, KeyCorp raised their price objective on Innospec from $80.00 to $86.00 and gave the company an overweight rating in a research report on Friday, July 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $85.50.

Shares of IOSP traded up $0.54 on Wednesday, reaching $75.55. The stock had a trading volume of 1,498 shares, compared to its average volume of 71,588. The stock has a market cap of $1.66 billion, a PE ratio of 15.86 and a beta of 1.10. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. Innospec has a 12-month low of $62.13 and a 12-month high of $83.20.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, November 6th. The specialty chemicals company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.14. The company had revenue of $363.10 million during the quarter, compared to analysts’ expectations of $362.50 million. Innospec had a return on equity of 14.13% and a net margin of 4.17%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. Equities analysts anticipate that Innospec will post 4.35 EPS for the current year.

The business also recently disclosed a dividend, which will be paid on Thursday, November 29th. Investors of record on Monday, November 19th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 16th. Innospec’s dividend payout ratio (DPR) is presently 17.81%.

Hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new position in Innospec during the 2nd quarter valued at approximately $116,000. First Hawaiian Bank bought a new stake in shares of Innospec in the 3rd quarter worth $147,000. UBS Group AG increased its holdings in shares of Innospec by 69.3% in the 1st quarter. UBS Group AG now owns 2,771 shares of the specialty chemicals company’s stock worth $190,000 after purchasing an additional 1,134 shares in the last quarter. Burney Co. bought a new stake in shares of Innospec in the 2nd quarter worth $207,000. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Innospec in the 2nd quarter worth $210,000. 93.02% of the stock is owned by institutional investors.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.

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