Innospec Inc. (NASDAQ:IOSP) was upgraded by investment analysts at Johnson Rice from a “hold” rating to an “accumulate” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

IOSP has been the subject of several other research reports. Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, August 22nd. Zacks Investment Research raised shares of Innospec from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Friday, November 10th. KeyCorp reaffirmed an “overweight” rating on shares of Innospec in a research report on Thursday, November 9th. ValuEngine raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, BidaskClub downgraded shares of Innospec from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.50.

Shares of Innospec (IOSP) opened at $67.60 on Tuesday. The company has a market cap of $1,643.77, a P/E ratio of 16.02 and a beta of 1.16. Innospec has a 52-week low of $54.10 and a 52-week high of $74.75. The company has a current ratio of 2.24, a quick ratio of 1.35 and a debt-to-equity ratio of 0.30.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.85 by $0.15. The company had revenue of $332.40 million during the quarter, compared to the consensus estimate of $309.40 million. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The company’s quarterly revenue was up 61.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. research analysts expect that Innospec will post 4.3 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System grew its position in Innospec by 15.6% in the 3rd quarter. California Public Employees Retirement System now owns 29,351 shares of the specialty chemicals company’s stock valued at $1,809,000 after purchasing an additional 3,951 shares during the period. Cubist Systematic Strategies LLC grew its position in Innospec by 64.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,232 shares of the specialty chemicals company’s stock valued at $446,000 after purchasing an additional 2,835 shares during the period. Highbridge Capital Management LLC acquired a new stake in Innospec in the 3rd quarter valued at $615,000. Grandeur Peak Global Advisors LLC acquired a new stake in Innospec in the 3rd quarter valued at $564,000. Finally, NWQ Investment Management Company LLC grew its position in Innospec by 93.2% in the 3rd quarter. NWQ Investment Management Company LLC now owns 392,819 shares of the specialty chemicals company’s stock valued at $24,217,000 after purchasing an additional 189,527 shares during the period. 88.80% of the stock is owned by institutional investors and hedge funds.

About Innospec

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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