Innospec Inc. (IOSP) Sets New 1-Year High at $60.51
Innospec Inc. (NASDAQ:IOSP)’s share price reached a new 52-week high on Friday . The company traded as high as $60.51 and last traded at $58.90, with a volume of 40,835 shares traded. The stock had previously closed at $59.44.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Innospec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note 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 research note on Friday, August 5th.
The company has a market cap of $1.41 billion and a price-to-earnings ratio of 12.55. The firm has a 50-day moving average price of $50.59 and a 200-day moving average price of $47.53.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. During the same quarter last year, the business earned $1.02 earnings per share. The firm had revenue of $228 million for the quarter, compared to the consensus estimate of $230.30 million. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts predict that Innospec Inc. will post $3.43 earnings per share for the current year.
A number of institutional investors have recently 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 valued at $1,320,000 after buying an additional 2,200 shares during the period. 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 during the period. Schroder Investment Management Group purchased a new position in shares of Innospec during the fourth quarter valued at about $8,255,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Innospec by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,120,831 shares of the company’s stock valued at $60,873,000 after buying an additional 102,451 shares during the period.
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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