Innospec (NASDAQ:IOSP) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Innospec (NASDAQ:IOSP) from a hold rating to a strong sell rating in a report published on Thursday,Zacks.com reports.

IOSP has been the subject of a number of other research reports. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Wall Street Zen upgraded shares of Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Innospec Trading Down 1.7%

Shares of NASDAQ:IOSP opened at $81.22 on Thursday. Innospec has a twelve month low of $70.10 and a twelve month high of $105.60. The company has a market capitalization of $2.01 billion, a PE ratio of 17.35 and a beta of 0.91. The firm has a 50 day simple moving average of $81.16 and a 200-day simple moving average of $79.30.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.26 by $0.24. The company had revenue of $455.60 million during the quarter, compared to analyst estimates of $460.87 million. Innospec had a return on equity of 10.18% and a net margin of 6.56%.The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. As a group, equities research analysts predict that Innospec will post 6.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Innospec during the 2nd quarter valued at $28,000. Versant Capital Management Inc boosted its position in Innospec by 378.1% in the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 431 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Innospec by 271.0% during the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 420 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Innospec by 31.0% during the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 139 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

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.