Innospec Inc. (IOSP) Hits New 12-Month High at $60.88
Innospec Inc. (NASDAQ:IOSP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $60.88 and last traded at $60.88, with a volume of 18,708 shares trading hands. The stock had previously closed at $60.06.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Innospec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Monness Crespi & Hardt raised Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research 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 target on the stock in a research report on Friday, August 5th.
The firm has a 50-day moving average of $53.64 and a 200-day moving average of $48.17. The company has a market cap of $1.44 billion and a PE ratio of 12.79.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The business had revenue of $228 million for the quarter, compared to the consensus estimate of $230.30 million. During the same period in the prior year, the business posted $1.02 EPS. Innospec’s quarterly 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 raised its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 10.1% during the fourth quarter, according to its most recent Form 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 4.65% of Innospec worth $60,873,000 at the end of the most recent reporting 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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