Innospec Inc. (IOSP) Shares Down 1.9%
Innospec Inc. (NASDAQ:IOSP)’s share price was down 1.9% on Friday . The company traded as low as $59.23 and last traded at $59.31, with a volume of 103,277 shares trading hands. The stock had previously closed at $60.44.
A number of equities analysts have weighed in on IOSP shares. Zacks Investment Research upgraded shares of Innospec from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, May 6th. Monness Crespi & Hardt upgraded shares of Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, August 4th. Finally, CJS Securities upgraded 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 firm has a market cap of $1.42 billion and a price-to-earnings ratio of 12.58. The firm’s 50-day moving average is $54.42 and its 200-day moving average is $48.33.
Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The company earned $228 million during the quarter, compared to analyst estimates of $230.30 million. During the same quarter in the prior year, the company posted $1.02 EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts forecast that Innospec Inc. will post $3.66 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Innospec stock. Dimensional Fund Advisors LP increased its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 10.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 4.65% of Innospec worth $60,873,000 as of its most recent filing with the SEC.
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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