Innospec (NASDAQ:IOSP) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Several other analysts have also issued reports on the stock. Seaport Research Partners reiterated a “buy” rating and issued a $110.00 target price on shares of Innospec in a research note on Thursday. Weiss Ratings upgraded shares of Innospec from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Finally, Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Innospec Stock Up 1.0%

IOSP stock opened at $92.44 on Friday. The firm has a market capitalization of $2.28 billion, a PE ratio of 18.87, a P/E/G ratio of 2.49 and a beta of 0.93. Innospec has a twelve month low of $65.51 and a twelve month high of $94.17. The stock’s 50 day moving average is $83.78 and its 200-day moving average is $79.73.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.22. Innospec had a return on equity of 9.22% and a net margin of 6.60%.The business 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 company posted $1.26 earnings per share. Innospec’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Innospec will post 5.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innospec

Several large investors have recently made changes to their positions in the business. CM Management LLC grew its position in Innospec by 66.7% during the fourth quarter. CM Management LLC now owns 20,000 shares of the specialty chemicals company’s stock valued at $1,531,000 after buying an additional 8,000 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Innospec by 196.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 18,497 shares of the specialty chemicals company’s stock worth $1,351,000 after acquiring an additional 12,259 shares during the period. Western Standard LLC raised its position in Innospec by 894.0% in the fourth quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company’s stock worth $20,541,000 after acquiring an additional 241,367 shares during the period. ZWJ Investment Counsel Inc. boosted its stake in Innospec by 110.9% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 94,535 shares of the specialty chemicals company’s stock valued at $7,236,000 after acquiring an additional 49,705 shares during the last quarter. Finally, First Wilshire Securities Management Inc. boosted its stake in Innospec by 47.2% in the first quarter. First Wilshire Securities Management Inc. now owns 148,072 shares of the specialty chemicals company’s stock valued at $10,812,000 after acquiring an additional 47,498 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.