Innospec Inc. (IOSP) Hits New 1-Year High at $60.51
Shares of Innospec Inc. (NASDAQ:IOSP) reached a new 52-week high during trading on Friday . The stock traded as high as $60.51 and last traded at $58.90, with a volume of 40,835 shares trading hands. The stock had previously closed at $59.44.
Several analysts have recently commented on IOSP shares. Zacks Investment Research raised shares of Innospec from a “sell” rating to a “hold” rating in a report on Wednesday, April 20th. Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Thursday, August 4th. Finally, CJS Securities raised shares of Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a report on Friday, August 5th.
The stock has a market cap of $1.41 billion and a PE ratio of 12.572. The stock has a 50 day moving average price of $50.29 and a 200 day moving average price of $47.45.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. During the same quarter in the prior year, the firm earned $1.02 EPS. The firm earned $228 million during the quarter, compared to analysts’ expectations of $230.30 million. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, analysts anticipate that Innospec Inc. will post $3.43 EPS for the current fiscal year.
Several institutional investors have made changes to their positions in IOSP. New York State Common Retirement Fund boosted its position in shares of Innospec by 10.0% in the fourth quarter. New York State Common Retirement Fund now owns 24,300 shares of the company’s stock worth $1,320,000 after buying an additional 2,200 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Innospec by 38.0% in the fourth quarter. California Public Employees Retirement System now owns 36,300 shares of the company’s stock valued at $1,971,000 after buying an additional 10,000 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Innospec during the fourth quarter valued at about $2,591,000. Bank of Montreal Can boosted its position in shares of Innospec by 559.6% in the fourth quarter. Bank of Montreal Can now owns 61,958 shares of the company’s stock valued at $3,365,000 after buying an additional 52,565 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Innospec during the fourth quarter valued at about $8,255,000.
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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