BidaskClub Downgrades Innophos (NASDAQ:IPHS) to Strong Sell

BidaskClub downgraded shares of Innophos (NASDAQ:IPHS) from a sell rating to a strong sell rating in a research note published on Wednesday morning, BidAskClub reports.

Other equities analysts have also issued reports about the stock. TheStreet lowered shares of Innophos from a b- rating to a c+ rating in a research report on Thursday, May 23rd. Zacks Investment Research lowered shares of Innophos from a buy rating to a hold rating in a research report on Thursday, July 25th. Three 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 a consensus price target of $31.00.

Shares of IPHS opened at $27.96 on Wednesday. The company has a market capitalization of $551.35 million, a price-to-earnings ratio of 13.22 and a beta of 1.43. The company has a 50-day moving average of $27.63. Innophos has a fifty-two week low of $22.57 and a fifty-two week high of $46.65. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.85 and a quick ratio of 1.49.

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

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc increased its position in Innophos by 75.0% during the first quarter. Versant Capital Management Inc now owns 1,612 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 691 shares during the period. Public Employees Retirement System of Ohio increased its position in Innophos by 14.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,708 shares of the specialty chemicals company’s stock worth $66,000 after acquiring an additional 334 shares during the period. Bank of Montreal Can increased its position in Innophos by 169.7% during the second quarter. Bank of Montreal Can now owns 2,799 shares of the specialty chemicals company’s stock worth $80,000 after acquiring an additional 1,761 shares during the period. Russell Investments Group Ltd. bought a new position in Innophos during the second quarter worth about $132,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Innophos by 353.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,403 shares of the specialty chemicals company’s stock worth $157,000 after acquiring an additional 4,991 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Innophos Company Profile

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.

See Also: Book Value Per Share – BVPS

Receive News & Ratings for Innophos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innophos and related companies with MarketBeat.com's FREE daily email newsletter.