Innospec (NASDAQ:IOSP) Stock Rating Lowered by Zacks Research

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

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Seaport Research Partners reissued a “buy” rating and set a $110.00 price target on shares of Innospec in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Innospec from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Innospec Stock Performance

Shares of IOSP opened at $77.72 on Monday. The company has a market capitalization of $1.91 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.13 and a beta of 0.88. Innospec has a one year low of $65.51 and a one year high of $102.00. The stock has a 50-day moving average price of $94.67 and a 200 day moving average price of $84.56.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, November 3rd. The specialty chemicals company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Innospec had a return on equity of 9.36% and a net margin of 7.49%. The firm had revenue of $473.60 million during the quarter, compared to analyst estimates of $479.17 million. During the same quarter last year, the firm earned $1.12 EPS. Innospec’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Innospec will post 5.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innospec

Hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in Innospec in the third quarter valued at about $30,000. Meeder Asset Management Inc. bought a new position in Innospec during the 2nd quarter worth approximately $36,000. State of Wyoming acquired a new position in shares of Innospec in the 3rd quarter worth approximately $46,000. Farther Finance Advisors LLC grew its position in shares of Innospec by 94.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 675 shares of the specialty chemicals company’s stock worth $64,000 after acquiring an additional 327 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Innospec in the 2nd quarter worth approximately $62,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

About Innospec

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.