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Innospec (IOSP) Stock Jumps 3.8%: Will It Continue to Soar?
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Innospec (IOSP - Free Report) shares rallied 3.8% in the last trading session to close at $130.25. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.4% gain over the past four weeks.
IOSP’s rally appears to be driven by the optimism over the strong momentum in its Performance Chemicals segment, which is benefiting from strong volume growth. The company is also benefiting from the acquisition of QGP Quimica Geral in Brazil, which has expanded its global footprint and manufacturing capabilities and enhanced customer service in South America. The acquisition aligns with IOSP's M&A strategy, bolstering the Performance Chemicals segment and establishing a manufacturing base in South America.
This specialty chemicals company is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of +7%. Revenues are expected to be $479.2 million, down 0.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Innospec, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IOSP going forward to see if this recent jump can turn into more strength down the road.
Innospec is part of the Zacks Chemical - Diversified industry. Compass Minerals (CMP - Free Report) , another stock in the same industry, closed the last trading session 8.3% higher at $12.38. CMP has returned 2.1% in the past month.
Compass' consensus EPS estimate for the upcoming report has changed +1.3% over the past month to -$0.67. Compared to the company's year-ago EPS, this represents a change of -166.3%. Compass currently boasts a Zacks Rank of #3 (Hold).
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Innospec (IOSP) Stock Jumps 3.8%: Will It Continue to Soar?
Innospec (IOSP - Free Report) shares rallied 3.8% in the last trading session to close at $130.25. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.4% gain over the past four weeks.
IOSP’s rally appears to be driven by the optimism over the strong momentum in its Performance Chemicals segment, which is benefiting from strong volume growth. The company is also benefiting from the acquisition of QGP Quimica Geral in Brazil, which has expanded its global footprint and manufacturing capabilities and enhanced customer service in South America. The acquisition aligns with IOSP's M&A strategy, bolstering the Performance Chemicals segment and establishing a manufacturing base in South America.
This specialty chemicals company is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of +7%. Revenues are expected to be $479.2 million, down 0.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Innospec, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IOSP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Innospec is part of the Zacks Chemical - Diversified industry. Compass Minerals (CMP - Free Report) , another stock in the same industry, closed the last trading session 8.3% higher at $12.38. CMP has returned 2.1% in the past month.
Compass' consensus EPS estimate for the upcoming report has changed +1.3% over the past month to -$0.67. Compared to the company's year-ago EPS, this represents a change of -166.3%. Compass currently boasts a Zacks Rank of #3 (Hold).