Innophos Holdings, Inc. (NASDAQ:IPHS) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 187,300 shares, a decrease of 28.8% from the January 15th total of 263,200 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 171,700 shares, the short-interest ratio is currently 1.1 days.
A number of research firms recently commented on IPHS. BidaskClub downgraded Innophos from a “sell” rating to a “strong sell” rating in a report on Saturday, January 11th. ValuEngine upgraded Innophos from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Zacks Investment Research upgraded Innophos from a “sell” rating to a “hold” rating in a report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.00.
NASDAQ:IPHS remained flat at $$31.99 during mid-day trading on Friday. The stock’s 50 day simple moving average is $31.96 and its 200-day simple moving average is $31.11. Innophos has a 52 week low of $23.85 and a 52 week high of $37.53. The company has a market cap of $629.88 million, a P/E ratio of 29.90 and a beta of 1.48. The company has a current ratio of 2.94, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01.
A number of large investors have recently added to or reduced their stakes in IPHS. State Street Corp grew its holdings in Innophos by 2.8% during the fourth quarter. State Street Corp now owns 627,349 shares of the specialty chemicals company’s stock valued at $20,063,000 after purchasing an additional 16,946 shares during the last quarter. Investment Counselors of Maryland LLC grew its holdings in Innophos by 1.6% during the fourth quarter. Investment Counselors of Maryland LLC now owns 614,078 shares of the specialty chemicals company’s stock valued at $19,638,000 after purchasing an additional 9,517 shares during the last quarter. Water Island Capital LLC acquired a new position in Innophos during the fourth quarter valued at approximately $9,058,000. LSV Asset Management grew its holdings in Innophos by 24.0% during the fourth quarter. LSV Asset Management now owns 136,779 shares of the specialty chemicals company’s stock valued at $4,374,000 after purchasing an additional 26,484 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in Innophos during the third quarter valued at approximately $4,417,000. Hedge funds and other institutional investors own 92.47% of the company’s stock.
Innophos Holdings, Inc, together with its subsidiaries, produces specialty ingredients with applications in food, health, nutrition, and industrial markets. It operates through three segments: Food, Health and Nutrition; Industrial Specialties; and Other. The company's specialty ingredients include specialty phosphate salts and specialty phosphoric acids, as well as other mineral, enzyme, and botanical based specialty ingredients that are used as flavor enhancers in beverages; electrolytes in sports drinks; texture modifiers in cheeses; leavening agents in baked goods; calcium and phosphorus fortification in food and beverages; moisture and color retention in seafood, poultry, and meat; excipients in vitamins, minerals, nutritional supplements, and pharmaceuticals; and abrasives in toothpaste.
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