The stock of Innospec Inc. (NASDAQ:IOSP) hit a new 52-week high and has $78.31 target or 25.00% above today’s $62.65 share price. The 9 months bullish chart indicates low risk for the $1.52B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $78.31 price target is reached, the company will be worth $380.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 67,364 shares traded hands. Innospec Inc. (NASDAQ:IOSP) has risen 42.76% since March 16, 2016 and is uptrending. It has outperformed by 37.22% the S&P500.
Analysts await Innospec Inc. (NASDAQ:IOSP) to report earnings on November, 1. They expect $0.80 earnings per share, down 32.20% or $0.38 from last year’s $1.18 per share. IOSP’s profit will be $19.41 million for 19.58 P/E if the $0.80 EPS becomes a reality. After $1.03 actual earnings per share reported by Innospec Inc. for the previous quarter, Wall Street now forecasts -22.33% negative EPS growth.
Innospec Inc. (NASDAQ:IOSP) Ratings Coverage
Out of 2 analysts covering Innospec (NASDAQ:IOSP), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Innospec has been the topic of 2 analyst reports since October 12, 2015 according to StockzIntelligence Inc. Monness Crespi & Hardt downgraded the shares of IOSP in a report on Monday, October 12 to “Neutral” rating. On Tuesday, April 5 the stock rating was upgraded by KeyBanc Capital Markets to “Overweight”.
According to Zacks Investment Research, “Octel Corp. is a major manufacturer and distributor of fuel additives and other specialty chemicals. Their products are sold globally, primarily to oil refineries. Principal product lines are lead alkyl antiknock compound, other petroleum additives and performance chemicals.”
More news for Innospec Inc. (NASDAQ:IOSP) were recently published by: Marketwatch.com, which released: “Innospec upgraded to overweight from sector weight at KeyBanc Capital” on February 18, 2011. Quotes.Wsj.com‘s article titled: “Innospec Inc. IOSP (US: Nasdaq)” and published on February 12, 2011 is yet another important article.
IOSP Company Profile
Innospec Inc., incorporated on January 13, 2006, develops, makes, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Firm operates in three divisions: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to gas and oil exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies. The Company’s oilfield specialties business supplies drilling and production chemicals for exploration and production. The Company’s Octane Additives business makes products for use in automotive gasoline and provides services in respect of environmental remediation.
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