InnerWorkings (INWK) Cut to Hold at Zacks Investment Research

InnerWorkings (NASDAQ:INWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “

Several other analysts have also recently issued reports on INWK. BidaskClub cut shares of InnerWorkings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Lake Street Capital began coverage on shares of InnerWorkings in a research report on Monday, October 2nd. They set a “buy” rating and a $14.00 price target for the company. Finally, Dougherty & Co began coverage on shares of InnerWorkings in a research report on Tuesday, October 31st. They set a “buy” rating and a $14.00 price target for the company. One equities research 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 stock currently has a consensus rating of “Buy” and a consensus price target of $13.60.

Shares of InnerWorkings (NASDAQ INWK) traded up $0.17 during trading on Friday, hitting $10.86. The company had a trading volume of 448,300 shares, compared to its average volume of 218,933. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 1.63. InnerWorkings has a 1 year low of $8.84 and a 1 year high of $12.03. The firm has a market cap of $575.86, a P/E ratio of 22.64, a P/E/G ratio of 1.63 and a beta of 1.70.

InnerWorkings (NASDAQ:INWK) last released its earnings results on Tuesday, November 7th. The business services provider reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm had revenue of $288.40 million during 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%. InnerWorkings’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS. equities research analysts expect that InnerWorkings will post 0.49 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of INWK. Legal & General Group Plc raised its stake in shares of InnerWorkings by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 10,713 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 1,007 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of InnerWorkings in the 1st quarter valued at about $127,000. BlueCrest Capital Management Ltd acquired a new stake in shares of InnerWorkings in the 2nd quarter valued at about $127,000. Petrus Trust Company LTA acquired a new stake in shares of InnerWorkings in the 2nd quarter valued at about $130,000. Finally, Zacks Investment Management acquired a new stake in InnerWorkings during the second quarter worth about $146,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.

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About InnerWorkings

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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