Innospec Inc. (IOSP) Sets New 1-Year High at $60.88
Innospec Inc. (NASDAQ:IOSP) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $60.88 and last traded at $60.88, with a volume of 18,708 shares changing hands. The stock had previously closed at $60.06.
IOSP has been the topic of a number of analyst reports. Zacks Investment Research raised Innospec from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Friday, May 6th. Monness Crespi & Hardt raised 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 Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price objective on the stock in a report on Friday, August 5th.
The firm has a market cap of $1.45 billion and a PE ratio of 12.90. The stock’s 50 day moving average price is $53.03 and its 200-day moving average price is $47.99.
Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, August 2nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. The business earned $228 million during the quarter, compared to analyst estimates of $230.30 million. During the same period in the previous year, the firm posted $1.02 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. On average, equities research analysts forecast that Innospec Inc. will post $3.43 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Innospec stock. Dimensional Fund Advisors LP boosted its position in shares of Innospec Inc. (NASDAQ:IOSP) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,120,831 shares of the company’s stock after buying an additional 102,451 shares during the period. Dimensional Fund Advisors LP owned about 4.65% of Innospec worth $60,873,000 as of its most recent SEC filing.
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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