Innospec Inc. (IOSP) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of Innospec Inc. (NASDAQ:IOSP) from a hold rating to a buy rating in a report released on Thursday morning.
A number of other equities research analysts also recently commented on IOSP. Zacks Investment Research downgraded Innospec from a strong-buy rating to a hold rating in a research report on Wednesday, July 12th. BidaskClub downgraded Innospec from a sell rating to a strong sell rating in a research report on Thursday, July 27th. Finally, Monness Crespi & Hardt raised Innospec from a neutral rating to a buy rating and set a $65.00 price objective for the company in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $70.50.
Shares of Innospec (IOSP) traded down $1.90 during trading hours on Thursday, hitting $65.85. The stock had a trading volume of 113,200 shares, compared to its average volume of 87,854. The stock has a market capitalization of $1,589.49, a P/E ratio of 15.49 and a beta of 1.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.32 and a current ratio of 2.24. Innospec has a twelve month low of $54.10 and a twelve month high of $74.75.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.15. The business had revenue of $332.40 million during the quarter, compared to the consensus estimate of $309.40 million. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The business’s revenue for the quarter was up 61.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. research analysts forecast that Innospec will post 4.3 earnings per share for the current year.
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The company also recently announced a semiannual dividend, which will be paid on Monday, November 27th. Investors of record on Thursday, November 16th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, November 15th. This represents a yield of 1.12%. This is a boost from Innospec’s previous semiannual dividend of $0.38. Innospec’s dividend payout ratio (DPR) is presently 21.05%.
A number of institutional investors have recently modified their holdings of IOSP. BlackRock Inc. boosted its holdings in Innospec by 29,556.5% in the first quarter. BlackRock Inc. now owns 2,971,282 shares of the specialty chemicals company’s stock valued at $192,389,000 after acquiring an additional 2,961,263 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Innospec by 115.7% in the second quarter. Principal Financial Group Inc. now owns 424,284 shares of the specialty chemicals company’s stock valued at $27,812,000 after acquiring an additional 227,605 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in Innospec in the second quarter valued at $9,334,000. Lazard Asset Management LLC boosted its holdings in Innospec by 25.3% in the second quarter. Lazard Asset Management LLC now owns 663,360 shares of the specialty chemicals company’s stock valued at $43,483,000 after acquiring an additional 134,020 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Innospec by 6.1% in the first quarter. Vanguard Group Inc. now owns 2,103,188 shares of the specialty chemicals company’s stock valued at $136,181,000 after acquiring an additional 120,723 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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