Innospec Inc. (IOSP) Shares Down 1.9%
Innospec Inc. (NASDAQ:IOSP) fell 1.9% during mid-day trading on Friday . The stock traded as low as $59.23 and last traded at $59.31, with a volume of 103,277 shares. The stock had previously closed at $60.44.
Several research firms recently issued reports on IOSP. Zacks Investment Research raised shares of Innospec from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Saturday, August 6th. CJS Securities raised shares of Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a report on Friday, August 5th. Finally, Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Thursday, August 4th.
The stock’s 50 day moving average price is $54.42 and its 200 day moving average price is $48.33. The company has a market capitalization of $1.42 billion and a price-to-earnings ratio of 12.58.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 prior year, the business posted $1.02 EPS. Innospec’s revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Innospec Inc. will post $3.66 earnings per share for the current year.
An institutional investor recently raised its position in Innospec stock. Dimensional Fund Advisors LP boosted its position in 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. 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 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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