InnerWorkings, Inc. (INWK) Downgraded by Zacks Investment Research

InnerWorkings, Inc. (NASDAQ:INWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, November 10th.

According to Zacks, “INNERWORKINGS are a leading global provider of managed print and promotional procurement solutions to corporate clients. With proprietary technology, an extensive supplier network and domain expertise, they procure, manage and deliver printed products as part of a comprehensive outsourced enterprise solution. Their technology is designed to capitalize on excess manufacturing capacity and other inefficiencies in the traditional print supply chain to obtain favorable pricing and to deliver high quality products and services for our clients. “

Other analysts have also recently issued reports about the stock. Lake Street Capital assumed coverage on shares of InnerWorkings in a research note on Monday, October 2nd. They issued a “buy” rating and a $14.00 target price for the company. BidaskClub lowered shares of InnerWorkings from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Dougherty & Co initiated coverage on shares of InnerWorkings in a report on Tuesday, October 31st. They set a “buy” rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $13.60.

InnerWorkings (NASDAQ:INWK) opened at $10.51 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.51. The company has a market cap of $568.82, a PE ratio of 22.36, a P/E/G ratio of 1.61 and a beta of 1.70. InnerWorkings has a 12 month low of $8.84 and a 12 month high of $12.03.

InnerWorkings (NASDAQ:INWK) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $288.40 million for the quarter, compared to analysts’ expectations of $289.82 million. InnerWorkings had a net margin of 2.04% and a return on equity of 9.53%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. analysts forecast that InnerWorkings will post 0.49 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of InnerWorkings by 10.4% during the second quarter. Legal & General Group Plc now owns 10,713 shares of the business services provider’s stock worth $124,000 after buying an additional 1,007 shares during the period. Prudential Financial Inc. purchased a new stake in shares of InnerWorkings during the first quarter worth approximately $127,000. BlueCrest Capital Management Ltd purchased a new stake in shares of InnerWorkings during the second quarter worth approximately $127,000. Petrus Trust Company LTA purchased a new stake in shares of InnerWorkings during the second quarter worth approximately $130,000. Finally, Zacks Investment Management purchased a new stake in shares of InnerWorkings during the second quarter worth approximately $146,000. Institutional investors own 80.12% of the company’s stock.

InnerWorkings Company Profile

InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.

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