Innospec (NASDAQ:IOSP) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Innospec (NASDAQ:IOSP) from a hold rating to a strong sell rating in a research note issued to investors on Thursday,Zacks.com reports.

IOSP has been the topic of several other reports. Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Innospec Stock Down 1.7%

Shares of NASDAQ IOSP opened at $81.22 on Thursday. The firm has a 50-day simple moving average of $81.16 and a 200-day simple moving average of $79.31. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 17.35 and a beta of 0.91. Innospec has a 52 week low of $70.10 and a 52 week high of $105.60.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. The firm had revenue of $455.60 million for the quarter, compared to analyst estimates of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. Innospec’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. As a group, equities research analysts expect that Innospec will post 6.18 EPS for the current year.

Institutional Trading of Innospec

A number of hedge funds and other institutional investors have recently made changes to their positions in IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Innospec in the second quarter valued at approximately $28,000. Versant Capital Management Inc raised its position in Innospec by 378.1% in the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 431 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Innospec by 271.0% in the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 420 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 487 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Company Profile

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.