The stock of Innospec Inc. (NASDAQ:IOSP) hit a new 52-week high and has $76.00 target or 26.00% above today’s $60.32 share price. The 7 months bullish chart indicates low risk for the $1.49 billion company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $76.00 price target is reached, the company will be worth $387.40M 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 49,148 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 EPS, down 32.20% or $0.38 from last year’s $1.18 per share. IOSP’s profit will be $19.76M for 18.85 P/E if the $0.80 EPS becomes a reality. After $1.03 actual EPS 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 stock has “Neutral” rating given by Monness Crespi & Hardt on Monday, October 12. The firm has “Overweight” rating given on Tuesday, April 5 by KeyBanc Capital Markets.
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: Marketwatch.com which released: “Innospec upgraded to overweight from sector weight at KeyBanc Capital” on February 18, 2011, also Finance.Yahoo.com published article titled: “What Drove Innospec Inc. (IOSP) to a New 52-week High?”, Quotes.Wsj.com published: “Innospec Inc. IOSP (US: Nasdaq)” on February 12, 2011. More interesting news about Innospec Inc. (NASDAQ:IOSP) was released by: Seekingalpha.com 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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