Innospec (NASDAQ:IOSP) Sets New 1-Year High - Should You Buy?

Key Points

• Innospec shares reached a new 52-week high of $97.20 and last traded near $95.84, up from a previous close of $96.08.
• The company exceeded quarterly expectations, reporting EPS of $1.27 versus $1.05 expected and revenue of $491.4 million, up 11.8% year over year.
• Analyst sentiment remains mixed: although some firms upgraded or reaffirmed a buy rating with a $110 price target, the overall consensus rating is Hold. Institutional investors own 96.64% of the stock.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $97.20 and last traded at $95.8390, with a volume of 5030 shares trading hands. The stock had previously closed at $96.08.

Analyst Ratings Changes

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

Innospec Price Performance

The firm has a market cap of $2.37 billion, a P/E ratio of 19.58, a PEG ratio of 2.45 and a beta of 0.93. The stock's 50 day moving average is $90.98 and its two-hundred day moving average is $82.31.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The firm had revenue of $491.40 million during the quarter, compared to analysts' expectations of $457.25 million. During the same quarter last year, the company earned $1.26 earnings per share. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts forecast that Innospec Inc. will post 5.03 EPS for the current fiscal year.

Institutional Trading of Innospec

A number of large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new stake in Innospec during the 2nd quarter worth about $36,000. Hantz Financial Services Inc. raised its stake in shares of Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 420 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Innospec by 316.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company's stock worth $51,000 after acquiring an additional 503 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Innospec by 125.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company's stock valued at $56,000 after purchasing an additional 405 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Innospec in the second quarter valued at approximately $62,000. 96.64% of the stock is currently owned by institutional investors.

Innospec Company Profile

Innospec Inc NASDAQ: IOSP is a global specialty chemicals company that develops, manufactures and supplies products used in the energy, transportation, personal care, household, agriculture and industrial markets. Its offerings are designed to improve product performance, support manufacturing processes and address specialized customer requirements.

The company operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its products include fuel additives and performance-enhancing chemicals for gasoline, diesel and other fuels, as well as ingredients and formulations used in personal care, home care, crop protection, construction, mining and other industrial applications.

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