Innophos (IPHS) Downgraded to Sell at BidaskClub
BidaskClub lowered shares of Innophos (NASDAQ:IPHS) from a hold rating to a sell rating in a report released on Tuesday morning.
A number of other equities research analysts also recently commented on the company. KeyCorp reaffirmed a hold rating on shares of Innophos in a research report on Wednesday, November 1st. Zacks Investment Research downgraded Innophos from a strong-buy rating to a hold rating in a research report on Wednesday, October 4th.
Shares of Innophos (NASDAQ IPHS) opened at $46.22 on Tuesday. The company has a market capitalization of $901.46, a price-to-earnings ratio of 18.76 and a beta of 0.86. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.86 and a quick ratio of 1.49. Innophos has a 1 year low of $41.66 and a 1 year high of $58.22.
Innophos (NASDAQ:IPHS) last announced its quarterly earnings data on Tuesday, October 31st. The specialty chemicals company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The business had revenue of $184.00 million during the quarter, compared to the consensus estimate of $179.33 million. Innophos had a return on equity of 13.90% and a net margin of 6.19%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. analysts expect that Innophos will post 2.5 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Friday, November 17th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Thursday, November 16th. Innophos’s dividend payout ratio is currently 88.48%.
Large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Innophos by 3.8% in the second quarter. BlackRock Inc. now owns 2,432,009 shares of the specialty chemicals company’s stock valued at $106,620,000 after acquiring an additional 89,360 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Innophos by 2.9% in the second quarter. Vanguard Group Inc. now owns 1,926,577 shares of the specialty chemicals company’s stock valued at $84,460,000 after acquiring an additional 54,505 shares during the last quarter. Daruma Capital Management LLC boosted its holdings in Innophos by 15.5% in the second quarter. Daruma Capital Management LLC now owns 1,182,095 shares of the specialty chemicals company’s stock valued at $51,823,000 after acquiring an additional 158,861 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Innophos by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 988,323 shares of the specialty chemicals company’s stock valued at $48,616,000 after acquiring an additional 14,862 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in Innophos by 1.5% in the third quarter. Frontier Capital Management Co. LLC now owns 869,238 shares of the specialty chemicals company’s stock valued at $42,758,000 after acquiring an additional 12,808 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.
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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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