InnerWorkings, Inc. (NASDAQ:INWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, November 10th.
According to Zacks, “INNERWORKINGS are a leading global provider of managed print and promotional procurement solutions to corporate clients. With proprietary technology, an extensive supplier network and domain expertise, they procure, manage and deliver printed products as part of a comprehensive outsourced enterprise solution. Their technology is designed to capitalize on excess manufacturing capacity and other inefficiencies in the traditional print supply chain to obtain favorable pricing and to deliver high quality products and services for our clients. “
A number of other research analysts have also commented on the company. BidaskClub lowered InnerWorkings from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Lake Street Capital started coverage on InnerWorkings in a research report on Monday, October 2nd. They issued a “buy” rating and a $14.00 target price for the company. Finally, Dougherty & Co initiated coverage on InnerWorkings in a research note on Tuesday, October 31st. They issued a “buy” rating and a $14.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. InnerWorkings has a consensus rating of “Buy” and an average target price of $13.60.
Shares of InnerWorkings (NASDAQ INWK) opened at $10.51 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $578.64, a price-to-earnings ratio of 22.28, a PEG ratio of 1.61 and a beta of 1.70. InnerWorkings has a 12 month low of $8.84 and a 12 month high of $12.03.
InnerWorkings (NASDAQ:INWK) last posted its earnings results on Tuesday, November 7th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The company had revenue of $288.40 million during the quarter, compared to analyst estimates of $289.82 million. InnerWorkings had a return on equity of 9.53% and a net margin of 2.04%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. sell-side analysts predict that InnerWorkings will post 0.48 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in INWK. Dimensional Fund Advisors LP raised its position in InnerWorkings by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,603,057 shares of the business services provider’s stock valued at $45,846,000 after purchasing an additional 26,438 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of InnerWorkings by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,669,795 shares of the business services provider’s stock worth $42,570,000 after acquiring an additional 160,330 shares during the period. American Century Companies Inc. grew its holdings in shares of InnerWorkings by 31.4% during the 3rd quarter. American Century Companies Inc. now owns 1,377,614 shares of the business services provider’s stock worth $15,498,000 after acquiring an additional 329,304 shares during the period. AMI Asset Management Corp grew its holdings in shares of InnerWorkings by 2.9% during the 2nd quarter. AMI Asset Management Corp now owns 1,178,285 shares of the business services provider’s stock worth $13,668,000 after acquiring an additional 33,274 shares during the period. Finally, Eagle Boston Investment Management Inc. grew its holdings in shares of InnerWorkings by 2.3% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 1,099,398 shares of the business services provider’s stock worth $12,753,000 after acquiring an additional 24,889 shares during the period. 80.12% of the stock is owned by institutional investors.
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.
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