ValuEngine Lowers Innospec (IOSP) to Hold
ValuEngine downgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a hold rating in a report released on Friday morning.
Several other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Innospec from a sell rating to a hold rating in a research note on Wednesday. BidaskClub lowered shares of Innospec from a buy rating to a hold rating in a research note on Saturday, August 4th. Finally, KeyCorp boosted their price objective on shares of Innospec from $80.00 to $86.00 and gave the stock an overweight rating in a research note on Friday, July 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $85.50.
Shares of NASDAQ:IOSP traded down $0.71 on Friday, reaching $66.98. The company’s stock had a trading volume of 64,061 shares, compared to its average volume of 102,270. Innospec has a 52-week low of $60.50 and a 52-week high of $83.20. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.87 billion, a P/E ratio of 14.37 and a beta of 0.96.
A number of institutional investors have recently modified their holdings of IOSP. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Innospec in the 2nd quarter valued at $490,000. Ramsey Quantitative Systems purchased a new position in Innospec in the 2nd quarter worth approximately $343,000. Itau Unibanco Holding S.A. purchased a new position in Innospec in the 2nd quarter worth approximately $116,000. BlackRock Inc. boosted its holdings in Innospec by 2.5% in the 2nd quarter. BlackRock Inc. now owns 3,820,121 shares of the specialty chemicals company’s stock worth $292,430,000 after acquiring an additional 94,111 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Innospec by 327.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 20,992 shares of the specialty chemicals company’s stock worth $1,608,000 after acquiring an additional 16,082 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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