Innospec (NASDAQ:IOSP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

IOSP has been the subject of a number of other reports. Seaport Research Partners restated a “buy” rating and set a $110.00 price target on shares of Innospec in a research note on Thursday. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Weiss Ratings raised shares of Innospec from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Innospec presently has a consensus rating of “Hold”.

Innospec Price Performance

IOSP stock opened at $92.89 on Friday. Innospec has a 1 year low of $65.51 and a 1 year high of $94.17. The company has a market cap of $2.29 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.93. The stock’s fifty day moving average price is $84.00 and its 200-day moving average price is $79.83.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.22. Innospec had a return on equity of 9.22% and a net margin of 6.60%.The company had revenue of $491.40 million during the quarter, compared to analysts’ expectations of $457.25 million. During the same quarter in the prior year, the business earned $1.26 earnings per share. Innospec’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts expect that Innospec will post 5.03 earnings per share for the current year.

Hedge Funds Weigh In On Innospec

A number of institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. increased its position in Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Innospec by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after buying an additional 645 shares during the period. Millennium Management LLC lifted its position in shares of Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after buying an additional 168,355 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Innospec by 37.4% during the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $433,000 after buying an additional 1,243 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Innospec by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after acquiring an additional 8,014 shares during the period. 96.64% of the stock is owned by institutional investors.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.