Innospec (NASDAQ:IOSP) Downgraded by BidaskClub to Buy

BidaskClub cut shares of Innospec (NASDAQ:IOSP) from a strong-buy rating to a buy rating in a research note issued to investors on Friday, BidAskClub reports.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of German American Bancorp. from a buy rating to a hold rating in a research note on Tuesday, April 30th. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th.

IOSP opened at $92.16 on Friday. The stock has a market capitalization of $2.26 billion, a PE ratio of 19.08 and a beta of 1.31. The company’s fifty day moving average is $87.31. Innospec has a fifty-two week low of $53.07 and a fifty-two week high of $94.79. The company has a quick ratio of 1.45, a current ratio of 2.28 and a debt-to-equity ratio of 0.25.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, May 7th. The specialty chemicals company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.07. The company had revenue of $388.30 million during the quarter. Innospec had a net margin of 6.08% and a return on equity of 14.92%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 earnings per share. On average, analysts anticipate that Innospec will post 5.15 earnings per share for the current year.

In other Innospec news, VP Catherine Hessner sold 2,000 shares of Innospec stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $83.64, for a total value of $167,280.00. Following the completion of the transaction, the vice president now directly owns 20,923 shares of the company’s stock, valued at approximately $1,749,999.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 4,300 shares of company stock valued at $356,236 over the last three months. Corporate insiders own 1.62% of the company’s stock.

Large investors have recently modified their holdings of the business. Avestar Capital LLC bought a new stake in shares of Innospec in the 1st quarter worth about $66,000. Grandfield & Dodd LLC bought a new stake in shares of Innospec in the 1st quarter worth about $200,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Innospec in the 2nd quarter worth about $201,000. First Citizens Bank & Trust Co. bought a new stake in shares of Innospec in the 1st quarter worth about $202,000. Finally, O Shares Investment Advisers LLC bought a new stake in shares of Innospec in the 1st quarter worth about $220,000. 93.34% of the stock is owned by institutional investors and hedge funds.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.

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