Notable Price Action: Is Innospec Inc. a Buy? The Stock Reaches Record High Today

Notable Price Action: Is Innospec Inc. a Buy? The Stock Reaches Record High Today

The stock of Innospec Inc. (NASDAQ:IOSP) reached all time high today, Oct, 3 and still has $102.31 target or 69.00% above today’s $60.54 share price. This indicates more upside for the $1.49 billion company. This technical setup was reported by If the $102.31 PT is reached, the company will be worth $1.03B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock decreased 0.44% or $0.27 during the last trading session, hitting $60.54. About 88,555 shares traded hands. Innospec Inc. (NASDAQ:IOSP) has risen 40.12% since February 29, 2016 and is uptrending. It has outperformed by 27.90% 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 $19.69 million for 18.92 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. The rating was downgraded by Monness Crespi & Hardt on Monday, October 12 to “Neutral”. The stock has “Overweight” rating given by KeyBanc Capital Markets on Tuesday, April 5.

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 important recent Innospec Inc. (NASDAQ:IOSP) news were published by: which released: “Innospec upgraded to overweight from sector weight at KeyBanc Capital” on February 18, 2011, also published article titled: “What Drove Innospec Inc. (IOSP) to a New 52-week High?”, published: “Innospec Inc. IOSP (US: Nasdaq)” on February 12, 2011. More interesting news about Innospec Inc. (NASDAQ:IOSP) was released by: and their article: “Innospec – Momentum Too Strong Amidst So Many Moving Parts” with publication date: August 05, 2016.

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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