Innospec (NASDAQ:IOSP) Hits New 1-Year High – What’s Next?

Shares of Innospec Inc. (NASDAQ:IOSP) reached a new 52-week high on Wednesday . The stock traded as high as $95.07 and last traded at $95.20, with a volume of 1597 shares traded. The stock had previously closed at $94.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings raised Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Seaport Research Partners restated a “buy” rating and issued a $110.00 target price on shares of Innospec in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Innospec from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Innospec Price Performance

The business’s 50-day moving average is $86.38 and its two-hundred day moving average is $80.75. The firm has a market cap of $2.35 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.51 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The firm had revenue of $491.40 million for the quarter, compared to analysts’ expectations of $457.25 million. During the same period in the previous year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts predict that Innospec Inc. will post 5.03 EPS for the current year.

Institutional Trading of Innospec

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in Innospec during the second quarter worth about $36,000. Hantz Financial Services Inc. grew its stake in Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 420 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 487 shares in the last quarter. Danske Bank A S acquired a new position in shares of Innospec during the 3rd quarter worth approximately $46,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Innospec by 316.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 503 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.