The stock of Innospec Inc. (NASDAQ:IOSP) hit a new 52-week high and has $73.14 target or 9.00% above today’s $67.10 share price. The 7 months bullish chart indicates low risk for the $1.63B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $73.14 price target is reached, the company will be worth $146.70M 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 57,133 shares traded hands. Innospec Inc. (NASDAQ:IOSP) has risen 37.85% since April 21, 2016 and is uptrending. It has outperformed by 32.52% the S&P500.
Analysts await Innospec Inc. (NASDAQ:IOSP) to report earnings on February, 21. They expect $0.90 earnings per share, down 27.42% or $0.34 from last year’s $1.24 per share. IOSP’s profit will be $21.86 million for 18.64 P/E if the $0.90 EPS becomes a reality. After $0.78 actual earnings per share reported by Innospec Inc. for the previous quarter, Wall Street now forecasts 15.38% EPS growth.
Innospec Inc. (NASDAQ:IOSP) Ratings Coverage
Out of 3 analysts covering Innospec (NASDAQ:IOSP), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Innospec has been the topic of 3 analyst reports since October 12, 2015 according to StockzIntelligence Inc. The rating was downgraded by Monness Crespi & Hardt on Monday, October 12 to “Neutral”. KeyBanc Capital Markets upgraded the shares of IOSP in a report on Tuesday, April 5 to “Overweight” rating. The firm earned “Buy” rating on Friday, November 4 by Monness Crespi.
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 recent Innospec Inc. (NASDAQ:IOSP) news were published by: Marketwatch.com which released: “Innospec upgraded to overweight from sector weight at KeyBanc Capital” on February 18, 2011. Also Streetinsider.com published the news titled: “Form 4 INNOSPEC INC. For: Nov 22 Filed by: MCROBBIE IAN MALCOLM” on November 23, 2016. Streetinsider.com‘s news article titled: “Form 4 INNOSPEC INC. For: Nov 18 Filed by: HESSNER CATHERINE” with publication date: November 23, 2016 was also an interesting one.
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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