Innospec (NASDAQ:IOSP) Upgraded to Hold (C-) at Weiss Ratings

Key Points

• Innospec has been upgraded to a "hold (C-)" rating by Weiss Ratings, transitioning from a previous "sell (D+)" rating.
• The stock’s consensus rating is classified as a "Moderate Buy," with several analysts assigning it holding ratings after reflecting on its recent performance.
• Innospec reported earnings of $1.26 per share for the last quarter, surpassing estimates, although its revenue was slightly lower than anticipated.

Innospec (NASDAQ:IOSP - Get Free Report) was upgraded by research analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also weighed in on the company. Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Zacks Research raised Innospec from a "strong sell" rating to a "hold" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Innospec Price Performance

IOSP stock opened at $78.50 on Wednesday. The company has a market capitalization of $1.95 billion, a P/E ratio of 100.64 and a beta of 1.04. The business has a 50-day moving average price of $82.03 and a 200 day moving average price of $85.70. Innospec has a 1-year low of $74.10 and a 1-year high of $128.35.

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

Institutional Inflows and Outflows

Several 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 second quarter worth about $28,000. Tsfg LLC acquired a new position in Innospec in the 1st quarter worth approximately $35,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 487 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Innospec by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company's stock valued at $57,000 after acquiring an additional 186 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company's stock valued at $67,000 after acquiring an additional 173 shares during the last quarter. 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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