Innospec (NASDAQ:IOSP) Stock Rating Lowered by BidaskClub

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

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded German American Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th.

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

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

In other Innospec news, VP Brian Watt sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $82.01, for a total transaction of $164,020.00. Following the sale, the vice president now directly owns 30,992 shares of the company’s stock, valued at approximately $2,541,653.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 4,300 shares of company stock worth $356,236 over the last ninety days. 1.62% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of IOSP. Norges Bank acquired a new stake in shares of Innospec during the 4th quarter valued at about $19,046,000. FMR LLC lifted its stake 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 buying an additional 214,162 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Innospec in the 1st quarter valued at about $17,280,000. Royce & Associates LP lifted its stake 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 buying an additional 153,879 shares in the last quarter. Finally, BlackRock Inc. lifted its stake 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 buying an additional 142,191 shares in 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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