Innospec (NASDAQ:IOSP) Sets New 12-Month High - Time to Buy?

Key Points

• Innospec shares reached a new 52-week high of $95.01 and last traded near $94.92, giving the company a market capitalization of approximately $2.33 billion.
• The specialty chemicals company exceeded quarterly expectations, reporting EPS of $1.27 versus the $1.05 consensus and revenue of $491.4 million, up 11.8% year over year.
• Analyst sentiment remains mixed: the consensus rating is “Hold,” although Seaport Research Partners maintained a “Buy” rating with a $110 price target and institutional investors own 96.64% of the stock.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $95.01 and last traded at $94.9160, with a volume of 2190 shares. The stock had previously closed at $93.83.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IOSP shares. Zacks Research upgraded shares of Innospec from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Seaport Research Partners reissued a "buy" rating and issued a $110.00 price target on shares of Innospec in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Innospec from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Innospec from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Innospec presently has a consensus rating of "Hold".

Innospec Price Performance

The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 2.49 and a beta of 0.93. The stock has a 50-day moving average of $85.49 and a 200 day moving average of $80.39.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.22. The company had revenue of $491.40 million for the quarter, compared to the consensus estimate of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The company's revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 EPS. Sell-side analysts anticipate that Innospec Inc. will post 5.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innospec

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Baird Financial Group Inc. raised its position in shares of Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock valued at $206,000 after acquiring an additional 223 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Innospec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company's stock worth $1,405,000 after purchasing an additional 645 shares during the last quarter. Millennium Management LLC grew its stake in shares of Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock worth $16,147,000 after purchasing an additional 168,355 shares during the period. NewEdge Advisors LLC grew its stake in shares of Innospec by 37.4% during the first quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company's stock worth $433,000 after purchasing an additional 1,243 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Innospec by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company's stock valued at $12,545,000 after purchasing an additional 8,014 shares during the last quarter. 96.64% of the stock is owned by institutional investors.

About Innospec

Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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