Innophos Holdings Inc. (IPHS) Downgraded to Hold at Zacks Investment Research
Innophos Holdings Inc. (NASDAQ:IPHS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Innophos, Inc., is one of the leading North American manufacturers of specialty phosphates, serving a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos’ market-leading positions derive from its experience and dedication to customer service and innovation. “
Shares of Innophos Holdings (NASDAQ:IPHS) opened at 39.35 on Wednesday. The firm has a market cap of $757.13 million, a price-to-earnings ratio of 30.18 and a beta of 0.81. Innophos Holdings has a 12-month low of $22.06 and a 12-month high of $44.42. The firm has a 50-day moving average price of $39.64 and a 200 day moving average price of $39.03.
Innophos Holdings (NASDAQ:IPHS) last issued its earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. The business had revenue of $181.90 million for the quarter, compared to analysts’ expectations of $199.70 million. Innophos Holdings had a return on equity of 9.83% and a net margin of 3.47%. The company’s quarterly revenue was down 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. On average, equities research analysts anticipate that Innophos Holdings will post $2.44 earnings per share for the current fiscal year.
In related news, Director Robert J. Zatta bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average cost of $40.31 per share, for a total transaction of $40,310.00. Following the acquisition, the director now directly owns 6,351 shares of the company’s stock, valued at approximately $256,008.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of IPHS. TIAA CREF Investment Management LLC boosted its position in shares of Innophos Holdings by 29.8% in the first quarter. TIAA CREF Investment Management LLC now owns 161,622 shares of the company’s stock worth $4,996,000 after buying an additional 37,127 shares during the last quarter. BlackRock Group LTD increased its position in shares of Innophos Holdings by 7.1% in the first quarter. BlackRock Group LTD now owns 24,851 shares of the company’s stock worth $768,000 after buying an additional 1,648 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Innophos Holdings by 1.1% in the first quarter. BlackRock Fund Advisors now owns 1,215,310 shares of the company’s stock worth $37,565,000 after buying an additional 13,104 shares in the last quarter. Columbia Partners L L C Investment Management acquired a new position in shares of Innophos Holdings during the first quarter worth $1,271,000. Finally, JPMorgan Chase & Co. increased its position in shares of Innophos Holdings by 208.9% in the first quarter. JPMorgan Chase & Co. now owns 488,666 shares of the company’s stock worth $15,105,000 after buying an additional 330,475 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.
Innophos Holdings Company Profile
Innophos Holdings, Inc is a producer of nutritional specialty ingredients with applications in food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets. The Company also provides bioactive mineral and nutritional ingredients. Its segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and GTSP & Other.
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