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

Key Points

• Innospec shares crossed above their 200-day moving average, reaching $93.33 before closing at $91.96, compared with the average of $81.62.
• The company exceeded quarterly expectations, reporting $1.27 in EPS versus $1.05 expected and revenue of $491.4 million, up 11.8% year over year.
• Analyst sentiment is mixed but improving: Seaport Research Partners maintained a “buy” rating with a $110 price target, while MarketBeat’s overall consensus remains “Hold.” Institutional investors own approximately 96.64% of the stock.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $81.62 and traded as high as $93.33. Innospec shares last traded at $91.96, with a volume of 152,909 shares.

Analyst Upgrades and Downgrades

IOSP has been the topic of several recent research reports. Weiss Ratings raised Innospec from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Wall Street Zen raised Innospec from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Finally, Seaport Research Partners reiterated a "buy" rating and set a $110.00 price objective on shares of Innospec in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

Innospec Price Performance

The stock's 50-day moving average price is $89.56 and its 200 day moving average price is $81.62. The firm has a market cap of $2.26 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 2.47 and a beta of 0.93.

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 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 business had revenue of $491.40 million during the quarter, compared to the consensus estimate of $457.25 million. During the same quarter last year, the firm earned $1.26 earnings per share. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts forecast that Innospec Inc. will post 5.03 EPS for the current fiscal year.

Institutional Trading of Innospec

A number of hedge funds and other institutional investors have recently modified their holdings of IOSP. Meeder Asset Management Inc. bought a new position in Innospec during the second quarter worth about $36,000. Hantz Financial Services Inc. raised its stake in Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 420 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in 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 valued at $51,000 after buying an additional 503 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Innospec by 125.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company's stock valued at $56,000 after buying 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. Institutional investors and hedge funds own 96.64% of the company's stock.

About Innospec

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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