Innospec (NASDAQ:IOSP) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Innospec (NASDAQ:IOSP) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Innospec in a research note on Thursday, December 4th. Zacks Research cut Innospec from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Innospec has a consensus rating of “Hold”.

Innospec Price Performance

IOSP opened at $78.19 on Friday. The company has a 50 day simple moving average of $74.69 and a two-hundred day simple moving average of $80.64. The firm has a market cap of $1.94 billion, a P/E ratio of -2,606.33 and a beta of 0.93. Innospec has a 1-year low of $70.10 and a 1-year high of $117.08.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. The firm had revenue of $441.90 million for the quarter, compared to the consensus estimate of $443.00 million. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $1.35 EPS. Equities analysts anticipate that Innospec will post 6.18 earnings per share for the current year.

Innospec Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a yield of 245.0%. Innospec’s dividend payout ratio is presently -5,800.00%.

Insiders Place Their Bets

In other news, Director Leslie J. Parrette acquired 340 shares of Innospec stock in a transaction on Friday, November 14th. The shares were acquired at an average price of $74.09 per share, with a total value of $25,190.60. Following the purchase, the director directly owned 5,837 shares in the company, valued at $432,463.33. The trade was a 6.19% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Innospec in the 2nd quarter worth $28,000. Versant Capital Management Inc grew its position in Innospec by 378.1% in the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 431 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 487 shares in the last quarter. Allworth Financial LP increased its stake in Innospec by 31.0% during the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 139 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in Innospec during the third quarter valued at approximately $46,000. 96.64% of the stock is currently owned by institutional investors.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.