Innospec (NASDAQ:IOSP) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Innospec shares rose above their 200-day moving average, reaching $99.22 and last trading at $98.55, compared with a 200-day average of $84.21.
• The company exceeded quarterly expectations, reporting $1.27 in EPS versus the $1.05 consensus and $491.4 million in revenue, up 11.8% year over year.
• Analyst sentiment is mixed, with an average “Hold” rating despite a $110 price target from Seaport Research Partners; institutional investors own approximately 96.64% of the stock.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $84.21 and traded as high as $99.22. Innospec shares last traded at $98.55, with a volume of 233,649 shares traded.

Wall Street Analysts Forecast Growth

IOSP has been the topic of several research analyst reports. Seaport Research Partners reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Innospec in a research report on Thursday, August 6th. Weiss Ratings raised Innospec from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Innospec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 26th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

Innospec Stock Performance

The company has a 50 day simple moving average of $93.46 and a 200 day simple moving average of $84.21. The company has a market capitalization of $2.43 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.59 and a beta of 0.90.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, beating 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 company had revenue of $491.40 million during the quarter, compared to the consensus estimate of $457.25 million. During the same quarter in the prior year, the firm earned $1.26 EPS. Innospec's quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that Innospec Inc. will post 5.03 EPS for the current year.

Institutional Trading of Innospec

Institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new position in Innospec in the second quarter valued at $207,000. Integrated Wealth Concepts LLC purchased a new stake in Innospec during the second quarter worth approximately $135,000. NewEdge Advisors LLC boosted its holdings in shares of Innospec by 30.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,286 shares of the specialty chemicals company's stock valued at $919,000 after buying an additional 2,661 shares in the last quarter. Allworth Financial LP boosted its stake in Innospec by 40.9% in the second quarter. Allworth Financial LP now owns 1,310 shares of the specialty chemicals company's stock valued at $107,000 after acquiring an additional 380 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Innospec in the 2nd quarter valued at about $81,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

About Innospec

Innospec Inc NASDAQ: IOSP is a global specialty chemicals company that develops, manufactures and supplies products for the energy, transportation, personal care and industrial markets. Its offerings are designed to improve fuel performance, support industrial processes and enhance the properties of a wide range of consumer and commercial products.

The company operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its products include fuel additives, surfactants, specialty polymers and other performance chemicals used in fuel and refinery applications, home and personal care products, agriculture, construction, mining and industrial manufacturing.

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