Zacks Investment Research lowered shares of Innophos (NASDAQ:IPHS) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.
According to Zacks, “Innophos, Inc., is one of the leading North American manufacturers of specialty phosphates, serving a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos’ market-leading positions derive from its experience and dedication to customer service and innovation. “
Several other analysts also recently commented on IPHS. TheStreet downgraded ZovioInc . from a c- rating to a d rating in a research note on Thursday, May 23rd. BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $31.00.
Shares of IPHS opened at $27.69 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.49 and a current ratio of 3.14. The company has a 50-day moving average price of $27.84. The firm has a market cap of $544.66 million, a P/E ratio of 12.14 and a beta of 1.41. Innophos has a one year low of $22.57 and a one year high of $50.40.
Innophos (NASDAQ:IPHS) last issued its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.14. The company had revenue of $191.41 million during the quarter, compared to the consensus estimate of $199.90 million. Innophos had a return on equity of 13.09% and a net margin of 4.30%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.61 EPS. Equities research analysts predict that Innophos will post 2.36 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Innophos by 4.7% during the 4th quarter. BlackRock Inc. now owns 2,932,174 shares of the specialty chemicals company’s stock valued at $71,925,000 after purchasing an additional 131,590 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Innophos by 48.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,707,840 shares of the specialty chemicals company’s stock worth $41,893,000 after buying an additional 556,531 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Innophos by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,084,227 shares of the specialty chemicals company’s stock worth $26,596,000 after buying an additional 38,309 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Innophos by 24.6% during the 4th quarter. American Century Companies Inc. now owns 905,016 shares of the specialty chemicals company’s stock worth $22,200,000 after buying an additional 178,826 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in shares of Innophos by 40.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 612,289 shares of the specialty chemicals company’s stock worth $15,019,000 after buying an additional 177,149 shares in the last quarter. Institutional investors own 93.43% of the company’s stock.
Innophos Holdings, Inc, together with its subsidiaries, produces specialty ingredients with applications in food, health, nutrition, and industrial markets. It operates through three segments: Food, Health and Nutrition; Industrial Specialties; and Other. The company's specialty ingredients include specialty phosphate salts and specialty phosphoric acids, as well as other mineral, enzyme, and botanical based specialty ingredients that are used as flavor enhancers in beverages; electrolytes in sports drinks; texture modifiers in cheeses; leavening agents in baked goods; calcium and phosphorus fortification in food and beverages; moisture and color retention in seafood, poultry, and meat; excipients in vitamins, minerals, nutritional supplements, and pharmaceuticals; and abrasives in toothpaste.
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