Innospec (NASDAQ:IOSP) Raised to “Strong-Buy” at Wall Street Zen

Innospec (NASDAQ:IOSP) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued reports about the company. Weiss Ratings upgraded Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $110.00 target price on shares of Innospec in a report on Thursday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Innospec presently has a consensus rating of “Hold”.

Innospec Price Performance

NASDAQ IOSP opened at $92.44 on Friday. Innospec has a 12 month low of $65.51 and a 12 month high of $94.17. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.45 and a beta of 0.93. The company’s fifty day moving average price is $83.78 and its two-hundred day moving average price is $79.73.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.22. The company had revenue of $491.40 million during the quarter, compared to the consensus estimate of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, analysts anticipate that Innospec will post 5.03 EPS for the current year.

Institutional Investors Weigh In On Innospec

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new position in Innospec in the second quarter worth about $36,000. Hantz Financial Services Inc. boosted its stake in Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 420 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 487 shares during the last quarter. Danske Bank A S bought a new position in shares of Innospec during the third quarter valued at approximately $46,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Innospec by 316.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 503 shares during the period. Institutional investors own 96.64% of the company’s stock.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.