Innospec (NASDAQ:IOSP) Cut to Hold at Wall Street Zen

Key Points

• Innospec (NASDAQ:IOSP) was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, reflecting a shift in sentiment among analysts regarding the stock's performance.
• The company's recent quarterly earnings report showed earnings per share (EPS) of $1.26, exceeding analysts' expectations, while revenues were slightly below estimates at $439.70 million.
• Institutional investors hold 96.64% of Innospec's stock, with significant increases in holdings from firms like EverSource Wealth Advisors and Blue Trust Inc. in recent quarters.

Innospec (NASDAQ:IOSP - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

A number of other brokerages have also issued reports on IOSP. Zacks Research raised Innospec from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings raised Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Innospec Price Performance

Shares of IOSP stock opened at $74.08 on Friday. Innospec has a 12-month low of $73.58 and a 12-month high of $128.35. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 94.97 and a beta of 1.04. The business has a 50 day simple moving average of $81.31 and a 200 day simple moving average of $84.57.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.09. The business had revenue of $439.70 million during the quarter, compared to analyst estimates of $440.70 million. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 EPS. On average, equities analysts anticipate that Innospec will post 6.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Innospec

Large investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Innospec during the 2nd quarter worth $28,000. Tsfg LLC bought a new stake in shares of Innospec during the 1st quarter worth $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of Innospec by 1,159.5% during the 2nd 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. Blue Trust Inc. boosted its stake in shares of Innospec by 38.3% during the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company's stock worth $57,000 after acquiring an additional 186 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company's stock worth $67,000 after acquiring an additional 173 shares in the last quarter. 96.64% of the stock is 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.

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