Innospec (NASDAQ:IOSP) Stock Rating Lowered by BidaskClub

Innospec (NASDAQ:IOSP) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday, BidAskClub reports.

Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th.

Shares of NASDAQ IOSP opened at $92.40 on Friday. The business’s 50 day moving average price is $86.66. The firm has a market cap of $2.26 billion, a P/E ratio of 18.22 and a beta of 1.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.28 and a quick ratio of 1.45. Innospec has a 1 year low of $53.07 and a 1 year high of $94.79.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, May 7th. The specialty chemicals company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.07. Innospec had a net margin of 6.08% and a return on equity of 14.92%. The firm had revenue of $388.30 million during the quarter. During the same quarter last year, the business posted $1.02 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that Innospec will post 5.15 earnings per share for the current fiscal year.

In related news, VP Catherine Hessner sold 2,000 shares of Innospec stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $83.64, for a total value of $167,280.00. Following the completion of the sale, the vice president now owns 20,923 shares in the company, valued at approximately $1,749,999.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,300 shares of company stock valued at $356,236 in the last quarter. 1.62% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of IOSP. Norges Bank acquired a new stake in Innospec in the 4th quarter valued at approximately $19,046,000. FMR LLC increased its holdings in Innospec by 6.2% in the 4th quarter. FMR LLC now owns 3,659,994 shares of the specialty chemicals company’s stock valued at $226,042,000 after purchasing an additional 214,162 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Innospec in the 1st quarter valued at approximately $17,280,000. Royce & Associates LP increased its holdings in Innospec by 72.5% in the 1st quarter. Royce & Associates LP now owns 366,108 shares of the specialty chemicals company’s stock valued at $30,515,000 after purchasing an additional 153,879 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Innospec by 3.6% in the 1st quarter. BlackRock Inc. now owns 4,135,907 shares of the specialty chemicals company’s stock valued at $344,728,000 after purchasing an additional 142,191 shares during the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.

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