Innospec Inc. (IOSP) Raised to “Accumulate” at Johnson Rice
Johnson Rice upgraded shares of Innospec Inc. (NASDAQ:IOSP) from a hold rating to an accumulate rating in a research report report published on Tuesday, MarketBeat.com reports.
A number of other equities research analysts also recently commented on IOSP. BidaskClub downgraded Innospec from a sell rating to a strong sell rating in a report on Thursday, July 27th. ValuEngine downgraded Innospec from a buy rating to a hold rating in a research note on Monday, August 7th. Zacks Investment Research raised Innospec from a hold rating to a buy rating and set a $64.00 price target for the company in a research note on Wednesday, August 16th. Monness Crespi & Hardt raised Innospec from a neutral rating to a buy rating and set a $65.00 price target for the company in a research note on Tuesday, August 22nd. Finally, KeyCorp reaffirmed an overweight rating on shares of Innospec in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $70.50.
Shares of Innospec (NASDAQ:IOSP) opened at $69.45 on Tuesday. Innospec has a fifty-two week low of $54.10 and a fifty-two week high of $74.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.24 and a quick ratio of 1.35. The company has a market capitalization of $1,680.00, a price-to-earnings ratio of 16.02 and a beta of 1.15.
Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The company had revenue of $332.40 million during the quarter, compared to the consensus estimate of $309.40 million. During the same quarter last year, the company earned $0.78 earnings per share. Innospec’s quarterly revenue was up 61.8% compared to the same quarter last year. equities research analysts expect that Innospec will post 4.3 EPS for the current year.
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The company also recently declared a semiannual dividend, which will be paid on Monday, November 27th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.39 per share. This represents a dividend yield of 1.12%. The ex-dividend date is Wednesday, November 15th. This is an increase from Innospec’s previous semiannual dividend of $0.38. Innospec’s payout ratio is 21.55%.
Several large investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. raised its stake in shares of Innospec by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock worth $209,000 after buying an additional 41 shares during the last quarter. Amalgamated Bank raised its stake in Innospec by 1.8% in the 2nd quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 57 shares during the last quarter. Arizona State Retirement System raised its stake in Innospec by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 12,600 shares of the specialty chemicals company’s stock valued at $826,000 after purchasing an additional 100 shares during the last quarter. Loews Corp raised its stake in Innospec by 2.0% in the 2nd quarter. Loews Corp now owns 5,192 shares of the specialty chemicals company’s stock valued at $340,000 after purchasing an additional 100 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in Innospec by 4.0% in the 2nd quarter. Suntrust Banks Inc. now owns 3,996 shares of the specialty chemicals company’s stock valued at $261,000 after purchasing an additional 155 shares during the last quarter. 88.80% of the stock is owned by institutional investors and hedge funds.
Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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