Innospec (NASDAQ:IOSP) Stock Bumped Down to “Strong Sell” by Zacks Research

Zacks Research cut shares of Innospec (NASDAQ:IOSP) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks reports.

IOSP has been the subject of a number of other reports. Weiss Ratings cut shares of Innospec from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Seaport Research Partners restated a “buy” rating and set a $110.00 target price on shares of Innospec in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Innospec Trading Down 3.1%

Shares of IOSP stock opened at $77.72 on Monday. The company has a market capitalization of $1.91 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.13 and a beta of 0.88. The firm has a fifty day simple moving average of $94.67 and a 200-day simple moving average of $84.56. Innospec has a twelve month low of $65.51 and a twelve month high of $102.00.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Innospec had a net margin of 7.49% and a return on equity of 9.36%. The business had revenue of $473.60 million during the quarter, compared to analyst estimates of $479.17 million. During the same period last year, the business earned $1.12 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that Innospec will post 5.03 EPS for the current year.

Institutional Trading of Innospec

A number of hedge funds have recently made changes to their positions in IOSP. Ieq Capital LLC increased its stake in shares of Innospec by 11.5% in the third quarter. Ieq Capital LLC now owns 50,535 shares of the specialty chemicals company’s stock worth $4,817,000 after buying an additional 5,192 shares during the last quarter. Focus Advisor Solutions LLC bought a new position in Innospec during the 3rd quarter valued at $378,000. Edgestream Partners L.P. bought a new position in Innospec during the 3rd quarter valued at $6,331,000. Diversified Trust Co grew its holdings in Innospec by 3.1% during the 3rd quarter. Diversified Trust Co now owns 13,021 shares of the specialty chemicals company’s stock worth $1,241,000 after acquiring an additional 396 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Innospec by 30.5% during the 3rd quarter. Allworth Financial LP now owns 1,710 shares of the specialty chemicals company’s stock worth $163,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Company Profile

Innospec Inc. is a global specialty chemicals company that develops and manufactures products for customers in the fuels, oilfield and performance chemicals markets. Its Fuel Specialties business supplies additives for fuels and lubricants, while its Oilfield Services business provides chemical products and services used in oil and gas operations. Through its Performance Chemicals business, Innospec makes specialty ingredients for applications including personal care, home care and agriculture. Its products are used by industrial and consumer-products manufacturers around the world.