Innophos (NASDAQ:IPHS) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Innophos (NASDAQ:IPHS) from a hold rating to a sell rating in a research report sent to investors on Friday morning, Zacks.com reports.

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. “

Several other research firms have also weighed in on IPHS. ValuEngine lowered shares of Innophos from a sell rating to a strong sell rating in a research note on Wednesday, December 4th. BidaskClub cut shares of Innophos from a hold rating to a sell rating in a report on Thursday, November 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Innophos has an average rating of Hold and a consensus price target of $36.00.

Shares of NASDAQ IPHS opened at $31.88 on Friday. Innophos has a twelve month low of $22.57 and a twelve month high of $37.53. The company has a current ratio of 2.94, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $629.12 million, a price-to-earnings ratio of 16.06 and a beta of 1.43. The business has a 50 day simple moving average of $32.15 and a 200-day simple moving average of $29.71.

Innophos (NASDAQ:IPHS) last posted its quarterly earnings results on Wednesday, November 6th. The specialty chemicals company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.10). Innophos had a net margin of 2.82% and a return on equity of 11.56%. The firm had revenue of $189.00 million for the quarter, compared to analyst estimates of $185.55 million. During the same period in the prior year, the company posted $0.58 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts predict that Innophos will post 2.05 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in shares of Innophos by 55.9% in the 3rd 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 during the last quarter. Tower Research Capital LLC TRC increased its position in Innophos by 471.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,384 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 1,142 shares during the period. Meeder Asset Management Inc. increased its position in Innophos by 470.0% in the third quarter. Meeder Asset Management Inc. now owns 1,499 shares of the specialty chemicals company’s stock worth $49,000 after buying an additional 1,236 shares during the period. Bank of Montreal Can lifted its stake in Innophos by 169.7% in the second quarter. Bank of Montreal Can now owns 2,799 shares of the specialty chemicals company’s stock valued at $80,000 after buying an additional 1,761 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Innophos by 303.0% in the third quarter. Quadrant Capital Group LLC now owns 3,087 shares of the specialty chemicals company’s stock valued at $98,000 after buying an additional 2,321 shares during the last quarter. Hedge funds and other institutional investors own 92.38% of the company’s stock.

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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