Innospec (NASDAQ:IOSP) Announces Earnings Results, Beats Expectations By $0.24 EPS

by · The Markets Daily

Innospec (NASDAQ:IOSP – Get Free Report) announced its earnings results on Tuesday. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.24, Zacks reports. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%.

Innospec Stock Performance

NASDAQ:IOSP traded down $0.44 during midday trading on Tuesday, reaching $86.14. 268,968 shares of the stock traded hands, compared to its average volume of 162,617. The stock has a market capitalization of $2.13 billion, a P/E ratio of -2,871.33 and a beta of 0.91. Innospec has a 12 month low of $70.10 and a 12 month high of $110.29. The company has a fifty day moving average of $80.66 and a 200 day moving average of $79.17.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Innospec in a research report on Monday, December 22nd. Finally, Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

Get Our Latest Stock Analysis on IOSP

Institutional Investors Weigh In On Innospec

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its stake in Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 487 shares during the period. Danske Bank A S purchased a new position in Innospec during the 3rd quarter valued at $46,000. State of Wyoming raised its holdings in Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after purchasing an additional 173 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Innospec by 26.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,665 shares of the specialty chemicals company’s stock worth $130,000 after purchasing an additional 348 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock valued at $206,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

About Innospec

(Get Free Report)

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.

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