Innospec (NASDAQ:IOSP) Stock Rating Cut to “Strong Sell” at Zacks Research

Innospec (NASDAQ:IOSP) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.

Several other analysts have also weighed in on IOSP. Wall Street Zen lowered Innospec from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. Weiss Ratings lowered shares of Innospec from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $110.00 price objective on shares of Innospec in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Innospec Price Performance

Shares of IOSP stock opened at $77.72 on Monday. Innospec has a 1 year low of $65.51 and a 1 year high of $102.00. The stock’s 50 day simple moving average is $94.67 and its two-hundred day simple moving average is $84.56. The company has a market cap of $1.91 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.13 and a beta of 0.88.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, November 3rd. The specialty chemicals company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $473.60 million during the quarter, compared to analysts’ expectations of $479.17 million. Innospec had a return on equity of 9.36% and a net margin of 7.49%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. Equities research analysts expect that Innospec will post 5.03 EPS for the current year.

Institutional Trading of Innospec

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Innospec during the second quarter valued at approximately $356,596,000. Dimensional Fund Advisors LP raised its holdings in shares of Innospec by 5.7% in 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 buying an additional 66,967 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Innospec by 17.2% in the third quarter. Assenagon Asset Management S.A. now owns 319,633 shares of the specialty chemicals company’s stock worth $30,467,000 after buying an additional 46,851 shares during the period. Western Standard LLC purchased a new stake in shares of Innospec in the second quarter worth approximately $19,276,000. Finally, Bank of America Corp DE bought a new stake in shares of Innospec during the 2nd quarter worth approximately $19,187,000. Institutional investors own 96.64% of the company’s stock.

Innospec Company Profile

Innospec Inc. is a global specialty chemicals company that develops and manufactures products for customers in the fuels, oilfield and performance chemicals markets. Its Fuel Specialties business supplies additives for fuels and lubricants, while its Oilfield Services business provides chemical products and services used in oil and gas operations. Through its Performance Chemicals business, Innospec makes specialty ingredients for applications including personal care, home care and agriculture. Its products are used by industrial and consumer-products manufacturers around the world.