InnerWorkings (INWK) Raised to “Buy” at Zacks Investment Research

InnerWorkings (NASDAQ:INWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $11.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.70% from the stock’s current price.

According to Zacks, “InnerWorkings, Inc. is a marketing execution company. Its software applications and databases create an integrated solution which stores, analyzes and tracks the production capabilities of its supplier network as well as detailed pricing data. The company primarily serves retail, financial services, hospitality, consumer packaged goods, non-profits, healthcare, pharmaceuticals, food and beverage, broadcasting and cable and transportation sectors. InnerWorkings, Inc. is based in CHICAGO, United States. “

A number of other equities research analysts have also recently weighed in on INWK. Lake Street Capital began coverage on InnerWorkings in a research note on Monday, October 2nd. They issued a “buy” rating and a $14.00 price objective for the company. Dougherty & Co began coverage on InnerWorkings in a research note on Tuesday, October 31st. They issued a “buy” rating and a $14.00 price objective for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.40.

Shares of InnerWorkings (INWK) opened at $10.12 on Friday. InnerWorkings has a one year low of $9.08 and a one year high of $12.03. The company has a quick ratio of 1.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $547.81, a price-to-earnings ratio of 24.68, a PEG ratio of 1.32 and a beta of 1.68.

InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. InnerWorkings had a return on equity of 9.53% and a net margin of 2.04%. The business had revenue of $288.40 million during the quarter, compared to analysts’ expectations of $289.82 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. sell-side analysts predict that InnerWorkings will post 0.49 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in InnerWorkings by 4.6% in the second quarter. Vanguard Group Inc. now owns 3,669,795 shares of the business services provider’s stock valued at $42,570,000 after purchasing an additional 160,330 shares during the period. American Century Companies Inc. boosted its holdings in InnerWorkings by 31.4% in the third quarter. American Century Companies Inc. now owns 1,377,614 shares of the business services provider’s stock valued at $15,498,000 after purchasing an additional 329,304 shares during the period. Boston Partners boosted its holdings in InnerWorkings by 7.2% in the third quarter. Boston Partners now owns 1,065,420 shares of the business services provider’s stock valued at $11,986,000 after purchasing an additional 71,210 shares during the period. Renaissance Technologies LLC boosted its holdings in InnerWorkings by 75.2% in the second quarter. Renaissance Technologies LLC now owns 1,055,500 shares of the business services provider’s stock valued at $12,244,000 after purchasing an additional 453,200 shares during the period. Finally, Northern Trust Corp boosted its holdings in InnerWorkings by 20.5% in the second quarter. Northern Trust Corp now owns 749,922 shares of the business services provider’s stock valued at $8,699,000 after purchasing an additional 127,702 shares during the period. Hedge funds and other institutional investors own 80.80% of the company’s stock.

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About InnerWorkings

InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.

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