InnerWorkings, Inc. (INWK) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of InnerWorkings, Inc. (NASDAQ:INWK) from a sell rating to a hold rating in a report published on Tuesday.
According to Zacks, “INNERWORKINGS are a leading global provider of managed print and promotional procurement solutions to corporate clients. With proprietary technology, an extensive supplier network and domain expertise, they procure, manage and deliver printed products as part of a comprehensive outsourced enterprise solution. Their technology is designed to capitalize on excess manufacturing capacity and other inefficiencies in the traditional print supply chain to obtain favorable pricing and to deliver high quality products and services for our clients. “
A number of other brokerages have also recently weighed in on INWK. BidaskClub cut shares of InnerWorkings from a buy rating to a hold rating in a report on Tuesday, July 25th. Wunderlich restated a buy rating and issued a $15.00 price objective on shares of InnerWorkings in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $13.33.
Shares of InnerWorkings (NASDAQ:INWK) traded up 0.18% during trading on Tuesday, reaching $11.11. 110,461 shares of the company traded hands. The firm’s 50 day moving average is $10.81 and its 200-day moving average is $10.66. The stock has a market capitalization of $594.57 million, a P/E ratio of 32.30 and a beta of 1.62. InnerWorkings has a 12-month low of $8.07 and a 12-month high of $11.94.
InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $279.53 million for the quarter, compared to analysts’ expectations of $282.62 million. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, equities research analysts anticipate that InnerWorkings will post $0.48 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of InnerWorkings during the second quarter valued at approximately $550,000. California State Teachers Retirement System grew its holdings in shares of InnerWorkings by 5.9% during the second quarter. California State Teachers Retirement System now owns 80,184 shares of the business services provider’s stock valued at $930,000 after buying an additional 4,500 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of InnerWorkings by 19.4% during the second quarter. The Manufacturers Life Insurance Company now owns 38,049 shares of the business services provider’s stock valued at $441,000 after buying an additional 6,184 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of InnerWorkings during the second quarter valued at approximately $127,000. Finally, State Street Corp grew its holdings in shares of InnerWorkings by 9.0% during the second quarter. State Street Corp now owns 714,054 shares of the business services provider’s stock valued at $8,286,000 after buying an additional 59,193 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.
InnerWorkings Company Profile
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.
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