Innophos (NASDAQ:IPHS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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. “

Several other research firms have also recently commented on IPHS. KeyCorp restated a “hold” rating on shares of Innophos in a research report on Wednesday, November 1st. BidaskClub raised shares of Innophos from a “sell” rating to a “hold” rating in a research note on Thursday.

Shares of Innophos (NASDAQ IPHS) opened at $44.91 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.49 and a current ratio of 2.86. Innophos has a 1 year low of $41.66 and a 1 year high of $58.22. The firm has a market cap of $877.05, a PE ratio of 18.58 and a beta of 0.85.

Innophos (NASDAQ:IPHS) last posted its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Innophos had a net margin of 6.19% and a return on equity of 13.90%. The firm had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $179.33 million. During the same quarter in the prior year, the firm earned $0.69 EPS. Innophos’s quarterly revenue was down 1.1% on a year-over-year basis. research analysts expect that Innophos will post 2.5 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its stake in Innophos by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,141 shares of the specialty chemicals company’s stock valued at $401,000 after purchasing an additional 24 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Innophos by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 14,962 shares of the specialty chemicals company’s stock valued at $656,000 after purchasing an additional 130 shares during the last quarter. Texas Permanent School Fund lifted its stake in Innophos by 0.9% during the second quarter. Texas Permanent School Fund now owns 14,220 shares of the specialty chemicals company’s stock valued at $623,000 after purchasing an additional 131 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Innophos by 5.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,824 shares of the specialty chemicals company’s stock valued at $124,000 after purchasing an additional 157 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Innophos by 3.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,380 shares of the specialty chemicals company’s stock valued at $279,000 after purchasing an additional 230 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

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Innophos 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. The Company’s segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and Granular Triple Super Phosphate (GTSP) & Other.

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