Innospec (NASDAQ:IOSP) Stock Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Shares of Innospec Inc. (NASDAQ:IOSP) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $84.21 and traded as high as $99.22. Innospec shares last traded at $98.55, with a volume of 233,649 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Seaport Research Partners reaffirmed a “buy” rating and set a $110.00 target price on shares of Innospec in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Innospec Stock Performance

The business has a fifty day simple moving average of $93.71 and a 200 day simple moving average of $84.42. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.22% and a net margin of 6.60%.The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. On average, sell-side analysts forecast that Innospec Inc. will post 5.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innospec

A number of hedge funds and other institutional investors have recently made changes to their positions in IOSP. Sequoia Financial Advisors LLC bought a new stake in shares of Innospec in the second quarter valued at approximately $207,000. Integrated Wealth Concepts LLC acquired a new position in Innospec in the 2nd quarter valued at $135,000. NewEdge Advisors LLC lifted its position in shares of Innospec by 30.9% during the 2nd quarter. NewEdge Advisors LLC now owns 11,286 shares of the specialty chemicals company’s stock valued at $919,000 after acquiring an additional 2,661 shares during the period. Allworth Financial LP lifted its position in shares of Innospec by 40.9% during the 2nd quarter. Allworth Financial LP now owns 1,310 shares of the specialty chemicals company’s stock valued at $107,000 after acquiring an additional 380 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Innospec during the 2nd quarter worth $81,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

About Innospec

Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and supplies products for the energy, transportation, personal care and industrial markets. Its offerings are designed to improve fuel performance, support industrial processes and enhance the properties of a wide range of consumer and commercial products.

The company operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its products include fuel additives, surfactants, specialty polymers and other performance chemicals used in fuel and refinery applications, home and personal care products, agriculture, construction, mining and industrial manufacturing.