Innophos (NASDAQ:IPHS) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Innophos (NASDAQ:IPHS) from a hold rating to a sell rating in a research note issued to investors on Friday morning, Zacks.com reports.

According to Zacks, “Innophos, Inc., is one of the leading North American manufacturers of specialty phosphates, serving a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos’ market-leading positions derive from its experience and dedication to customer service and innovation. “

A number of other research analysts also recently commented on the stock. TheStreet downgraded shares of Innophos from a b- rating to a c+ rating in a research report on Thursday, May 23rd. BidaskClub downgraded shares of Innophos from a sell rating to a strong sell rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $31.00.

NASDAQ IPHS traded down $0.07 during trading on Friday, reaching $27.96. 56,926 shares of the company’s stock traded hands, compared to its average volume of 88,924. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.49 and a current ratio of 2.85. The stock has a market cap of $526.96 million, a price-to-earnings ratio of 12.26 and a beta of 1.43. The company has a 50 day simple moving average of $27.63. Innophos has a 12-month low of $22.57 and a 12-month high of $46.65.

Innophos (NASDAQ:IPHS) last posted its earnings results on Tuesday, August 6th. The specialty chemicals company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $185.04 million for the quarter, compared to the consensus estimate of $196.55 million. Innophos had a net margin of 3.79% and a return on equity of 12.35%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, analysts predict that Innophos will post 2.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.87%. The ex-dividend date is Thursday, August 22nd. Innophos’s dividend payout ratio is currently 84.21%.

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Innophos by 75.0% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 691 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Innophos by 14.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,708 shares of the specialty chemicals company’s stock valued at $66,000 after buying an additional 334 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Innophos by 169.7% in the 2nd quarter. Bank of Montreal Can now owns 2,799 shares of the specialty chemicals company’s stock valued at $80,000 after buying an additional 1,761 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Innophos in the 2nd quarter valued at about $132,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Innophos by 87.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,504 shares of the specialty chemicals company’s stock valued at $166,000 after buying an additional 2,570 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

About Innophos

Innophos Holdings, Inc, together with its subsidiaries, produces specialty ingredients with applications in food, health, nutrition, and industrial markets. It operates through three segments: Food, Health and Nutrition; Industrial Specialties; and Other. The company's specialty ingredients include specialty phosphate salts and specialty phosphoric acids, as well as other mineral, enzyme, and botanical based specialty ingredients that are used as flavor enhancers in beverages; electrolytes in sports drinks; texture modifiers in cheeses; leavening agents in baked goods; calcium and phosphorus fortification in food and beverages; moisture and color retention in seafood, poultry, and meat; excipients in vitamins, minerals, nutritional supplements, and pharmaceuticals; and abrasives in toothpaste.

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