Zacks Investment Research downgraded shares of Innophos (NASDAQ:IPHS) from a buy rating to a hold rating in a research report report published on Wednesday morning.
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. “
IPHS has been the topic of several other reports. BidaskClub lowered Innophos from a hold rating to a sell rating in a report on Tuesday, December 5th. KeyCorp restated a hold rating on shares of Innophos in a report on Wednesday, November 1st.
Innophos (IPHS) traded down $0.17 during midday trading on Wednesday, reaching $46.43. The company’s stock had a trading volume of 126,669 shares, compared to its average volume of 130,944. Innophos has a one year low of $41.66 and a one year high of $58.22. The company has a current ratio of 2.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $906.73, a price-to-earnings ratio of 21.40 and a beta of 0.85.
Innophos (NASDAQ:IPHS) last posted its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Innophos had a return on equity of 13.90% and a net margin of 6.19%. The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $179.33 million. During the same period last year, the company earned $0.69 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. analysts forecast that Innophos will post 2.5 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Personal Capital Advisors Corp grew its position in shares of Innophos by 2.7% in the third quarter. Personal Capital Advisors Corp now owns 60,902 shares of the specialty chemicals company’s stock valued at $2,996,000 after purchasing an additional 1,603 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Innophos by 38.5% in the second quarter. Prudential Financial Inc. now owns 172,021 shares of the specialty chemicals company’s stock valued at $7,541,000 after purchasing an additional 47,830 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Innophos by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 973,461 shares of the specialty chemicals company’s stock valued at $42,676,000 after purchasing an additional 3,717 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Innophos by 5.4% in the third quarter. Allianz Asset Management GmbH now owns 588,910 shares of the specialty chemicals company’s stock valued at $28,968,000 after purchasing an additional 30,320 shares during the last quarter. Finally, Systematic Financial Management LP grew its position in shares of Innophos by 15.1% in the second quarter. Systematic Financial Management LP now owns 36,430 shares of the specialty chemicals company’s stock valued at $1,597,000 after purchasing an additional 4,775 shares during the last quarter. Institutional investors own 94.46% of the company’s stock.
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Innophos Company Profile
Innophos Holdings, Inc is a producer of nutritional specialty ingredients with applications in food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets. The Company also provides bioactive mineral and nutritional ingredients. The Company’s segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and Granular Triple Super Phosphate (GTSP) & Other.
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