Innospec (NASDAQ:IOSP) Upgraded to "Hold" at Zacks Research

Key Points

• Innospec (NASDAQ:IOSP) was upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a more neutral outlook on the stock.
• The stock has shown mixed ratings, with one analyst giving a Strong Buy, one a Hold, and another a Sell, leading to an average rating of "Hold."
• In the latest earnings report, Innospec exceeded EPS estimates with $1.26, though its revenue slightly missed expectations, indicating a modest year-over-year growth of 1.1%.

Innospec (NASDAQ:IOSP - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

IOSP has been the subject of several other research reports. Wall Street Zen lowered shares of Innospec from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Weiss Ratings reissued a "sell (d+)" rating on shares of Innospec in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Innospec presently has an average rating of "Hold".

Innospec Price Performance

Shares of Innospec stock opened at $78.10 on Monday. The company's fifty day simple moving average is $82.07 and its 200-day simple moving average is $85.75. The stock has a market capitalization of $1.94 billion, a PE ratio of 100.13 and a beta of 1.04. Innospec has a 1-year low of $74.10 and a 1-year high of $128.35.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.17 by $0.09. The firm had revenue of $439.70 million for the quarter, compared to the consensus estimate of $440.70 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The company's revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. As a group, research analysts anticipate that Innospec will post 6.18 EPS for the current year.

Institutional Investors Weigh In On Innospec

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Innospec by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,210,768 shares of the specialty chemicals company's stock valued at $304,220,000 after buying an additional 30,031 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Innospec by 3.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,483,185 shares of the specialty chemicals company's stock worth $216,211,000 after acquiring an additional 78,360 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Innospec by 20.0% during the first quarter. Victory Capital Management Inc. now owns 1,106,482 shares of the specialty chemicals company's stock worth $104,839,000 after acquiring an additional 184,262 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Innospec by 2.1% in the second quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company's stock worth $60,517,000 after purchasing an additional 14,463 shares during the period. Finally, Nuveen LLC acquired a new stake in Innospec in the first quarter worth about $42,966,000. 96.64% of the stock is currently owned by hedge funds and other 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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