Innospec (NASDAQ:IOSP) Stock Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

Innospec Inc. (NASDAQ:IOSP) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $84.59 and traded as low as $79.89. Innospec shares last traded at $80.65, with a volume of 482,417 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IOSP shares. Weiss Ratings downgraded Innospec from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Wall Street Zen cut Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Seaport Research Partners reissued a “buy” rating and issued a $110.00 price target on shares of Innospec in a report on Thursday, August 6th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Innospec Stock Performance

The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.65 and a beta of 0.88. The stock’s 50 day simple moving average is $95.30 and its 200-day simple moving average is $84.59.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 3rd. The specialty chemicals company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. The business had revenue of $473.60 million during the quarter, compared to the consensus estimate of $479.17 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share. On average, analysts expect that Innospec Inc. will post 5.01 EPS for the current fiscal year.

Institutional Trading of Innospec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Innospec in the second quarter worth about $356,596,000. Western Standard LLC purchased a new position in Innospec during the second quarter valued at approximately $19,276,000. Bank of America Corp DE purchased a new position in Innospec during the second quarter valued at approximately $19,187,000. Bank of New York Mellon Corp acquired a new stake in shares of Innospec during the 2nd quarter worth approximately $11,172,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Innospec during the 2nd quarter worth approximately $10,417,000. 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 markets products used in the fuel, oilfield, personal care and industrial markets. The company serves customers through a portfolio of chemical additives, formulations and technical services designed to improve product performance, efficiency and reliability.

Innospec operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its fuel-related products include fuel additives for gasoline, diesel, marine and other applications, including detergents, lubricity improvers, cetane improvers and other performance-enhancing formulations.