InnerWorkings, Inc. (NASDAQ:INWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “INNERWORKINGS are a leading global provider of managed print and promotional procurement solutions to corporate clients. With proprietary technology, an extensive supplier network and domain expertise, they procure, manage and deliver printed products as part of a comprehensive outsourced enterprise solution. Their technology is designed to capitalize on excess manufacturing capacity and other inefficiencies in the traditional print supply chain to obtain favorable pricing and to deliver high quality products and services for our clients. “
A number of other equities analysts also recently commented on the company. BidaskClub downgraded InnerWorkings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Lake Street Capital assumed coverage on InnerWorkings in a research report on Monday, October 2nd. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Dougherty & Co assumed coverage on InnerWorkings in a research report on Tuesday, October 31st. They set a “buy” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $13.60.
Shares of InnerWorkings (NASDAQ:INWK) traded down $0.03 during trading hours on Friday, hitting $10.32. The stock had a trading volume of 563,500 shares, compared to its average volume of 211,662. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 1.50. The firm has a market capitalization of $558.54, a price-to-earnings ratio of 21.96, a PEG ratio of 1.59 and a beta of 1.70. InnerWorkings has a 12-month low of $8.16 and a 12-month high of $12.03.
InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. The firm had revenue of $288.40 million for the quarter, compared to analyst estimates of $289.82 million. InnerWorkings had a return on equity of 9.53% and a net margin of 2.04%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. analysts forecast that InnerWorkings will post 0.48 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in InnerWorkings by 10.4% during the second quarter. Legal & General Group Plc now owns 10,713 shares of the business services provider’s stock worth $124,000 after buying an additional 1,007 shares in the last quarter. Prudential Financial Inc. purchased a new position in InnerWorkings during the first quarter worth approximately $127,000. BlueCrest Capital Management Ltd purchased a new position in InnerWorkings during the second quarter worth approximately $127,000. Petrus Trust Company LTA purchased a new position in InnerWorkings during the second quarter worth approximately $130,000. Finally, Zacks Investment Management purchased a new stake in InnerWorkings in the second quarter valued at $146,000. Hedge funds and other institutional investors own 79.57% of the company’s stock.
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.
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