Innospec Inc. (NASDAQ:IOSP – Get Free Report)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $99.23, but opened at $91.65. Innospec shares last traded at $88.4250, with a volume of 37,238 shares trading hands.
Wall Street Analyst Weigh In
IOSP has been the subject of several analyst reports. Seaport Research Partners reaffirmed a “buy” rating and set a $110.00 price objective on shares of Innospec in a research report on Thursday, August 6th. Weiss Ratings downgraded Innospec from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Finally, Wall Street Zen lowered Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.
Check Out Our Latest Analysis on Innospec
Innospec Price Performance
The company has a market cap of $1.95 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 2.15 and a beta of 0.88. The firm’s 50 day simple moving average is $95.64 and its 200-day simple moving average is $84.59.
Innospec (NASDAQ:IOSP – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The specialty chemicals company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Innospec had a return on equity of 9.36% and a net margin of 7.49%. The company had revenue of $473.60 million for the quarter, compared to analyst estimates of $479.17 million. During the same quarter last year, the company posted $1.12 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that Innospec Inc. will post 5.01 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Innospec in the second quarter valued at approximately $356,596,000. Dimensional Fund Advisors LP raised its stake in shares of Innospec by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,242,089 shares of the specialty chemicals company’s stock worth $90,698,000 after purchasing an additional 66,967 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Innospec by 17.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 319,633 shares of the specialty chemicals company’s stock valued at $30,467,000 after buying an additional 46,851 shares during the last quarter. Western Standard LLC purchased a new stake in shares of Innospec in the second quarter valued at about $19,276,000. Finally, Bank of America Corp DE purchased a new stake in shares of Innospec in the second quarter valued at about $19,187,000. Institutional investors and hedge funds own 96.64% of the company’s stock.
Innospec Company Profile
Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and markets products used in the fuel, oilfield, personal care and industrial markets. The company serves customers through a portfolio of chemical additives, formulations and technical services designed to improve product performance, efficiency and reliability.
Innospec operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its fuel-related products include fuel additives for gasoline, diesel, marine and other applications, including detergents, lubricity improvers, cetane improvers and other performance-enhancing formulations.
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