Innophos (NASDAQ:IPHS) Trading Down 9%

Innophos Holdings, Inc. (NASDAQ:IPHS)’s stock price dropped 9% during mid-day trading on Monday . The company traded as low as $31.75 and last traded at $32.18, approximately 1,922,862 shares were traded during mid-day trading. An increase of 1,628% from the average daily volume of 111,265 shares. The stock had previously closed at $35.35.

IPHS has been the topic of a number of recent research reports. BidaskClub lowered Innophos from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Zacks Investment Research raised Innophos from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, ValuEngine raised Innophos from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.00.

The stock has a fifty day moving average of $32.10 and a two-hundred day moving average of $29.63. The stock has a market cap of $633.66 million, a price-to-earnings ratio of 14.22 and a beta of 1.44. The company has a quick ratio of 1.41, a current ratio of 2.85 and a debt-to-equity ratio of 0.97.

Innophos (NASDAQ:IPHS) last announced its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. Innophos had a return on equity of 12.35% and a net margin of 3.79%. The firm had revenue of $185.04 million for the quarter, compared to analyst estimates of $196.55 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Innophos’s quarterly revenue was down 10.5% on a year-over-year basis. On average, research analysts expect that Innophos Holdings, Inc. will post 2.18 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers grew its holdings in Innophos by 6.6% during the third quarter. Rhumbline Advisers now owns 64,662 shares of the specialty chemicals company’s stock worth $2,099,000 after acquiring an additional 3,977 shares during the period. Foundry Partners LLC acquired a new position in Innophos during the third quarter worth $4,417,000. Versant Capital Management Inc boosted its position in Innophos by 55.9% during the third quarter. Versant Capital Management Inc now owns 1,037 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 372 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Innophos by 92.7% during the third quarter. Nisa Investment Advisors LLC now owns 6,235 shares of the specialty chemicals company’s stock worth $202,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Innophos by 470.0% during the third quarter. Meeder Asset Management Inc. now owns 1,499 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 1,236 shares in the last quarter. 93.65% of the stock is currently owned by hedge funds and other institutional investors.

Innophos Company Profile (NASDAQ:IPHS)

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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