Innophos (NASDAQ:IPHS) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Innophos (NASDAQ:IPHS) from a sell rating to a hold rating in a report issued on Saturday, ValuEngine reports.

Several other equities research analysts have also recently issued reports on IPHS. TheStreet cut shares of Innophos from a b- rating to a c+ rating in a research note on Thursday, May 23rd. BidaskClub raised shares of Innophos from a sell rating to a hold rating in a research note on Friday, August 23rd. Finally, Zacks Investment Research cut shares of Innophos from a hold rating to a sell rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $31.00.

Innophos stock opened at $33.94 on Friday. Innophos has a 12-month low of $22.57 and a 12-month high of $46.65. The stock has a market capitalization of $656.90 million, a P/E ratio of 14.89 and a beta of 1.42. The firm’s 50-day moving average is $28.02 and its two-hundred day moving average is $29.33. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.85 and a quick ratio of 1.41.

Innophos (NASDAQ:IPHS) last released its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Innophos had a net margin of 3.79% and a return on equity of 12.35%. The company had revenue of $185.04 million for the quarter, compared to analysts’ expectations of $196.55 million. During the same period last year, the company earned $0.55 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, analysts forecast that Innophos will post 2.18 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.48 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.92 annualized dividend and a dividend yield of 5.66%. Innophos’s dividend payout ratio is presently 84.21%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in shares of Innophos by 169.7% in the second quarter. Bank of Montreal Can now owns 2,799 shares of the specialty chemicals company’s stock worth $80,000 after acquiring an additional 1,761 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Innophos in the second quarter worth approximately $132,000. BNP Paribas Arbitrage SA boosted its position in shares of Innophos by 87.6% in the first quarter. BNP Paribas Arbitrage SA now owns 5,504 shares of the specialty chemicals company’s stock worth $166,000 after acquiring an additional 2,570 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Innophos in the first quarter worth approximately $203,000. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Innophos in the first quarter worth approximately $206,000. 93.47% of the stock is currently owned by institutional investors and hedge funds.

About Innophos

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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