BidaskClub Downgrades InnerWorkings (INWK) to Strong Sell

InnerWorkings (NASDAQ:INWK) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

Other analysts have also issued reports about the stock. Lake Street Capital reissued a “buy” rating and set a $13.00 target price (down from $14.00) on shares of InnerWorkings in a research note on Tuesday, March 13th. ValuEngine raised shares of InnerWorkings from a “sell” rating to a “hold” rating in a research note on Saturday, April 21st. Finally, Zacks Investment Research lowered shares of InnerWorkings from a “hold” rating to a “sell” rating in a research note on Thursday, March 15th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. InnerWorkings presently has an average rating of “Hold” and an average target price of $13.25.

Shares of INWK opened at $8.80 on Wednesday. The firm has a market cap of $466.46 million, a PE ratio of 21.46, a P/E/G ratio of 1.13 and a beta of 1.67. InnerWorkings has a 12-month low of $8.82 and a 12-month high of $8.91. The company has a quick ratio of 1.67, a current ratio of 1.84 and a debt-to-equity ratio of 0.44.

InnerWorkings (NASDAQ:INWK) last issued its earnings results on Monday, March 12th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.08). The company had revenue of $301.00 million for the quarter, compared to analysts’ expectations of $304.90 million. InnerWorkings had a net margin of 1.67% and a return on equity of 8.01%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share. analysts predict that InnerWorkings will post 0.57 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Buckingham Asset Management LLC bought a new stake in shares of InnerWorkings in the fourth quarter valued at about $100,000. We Are One Seven LLC bought a new stake in shares of InnerWorkings in the fourth quarter valued at about $144,000. Teacher Retirement System of Texas bought a new stake in shares of InnerWorkings in the fourth quarter valued at about $167,000. Ellington Management Group LLC bought a new stake in shares of InnerWorkings in the fourth quarter valued at about $173,000. Finally, Jefferies Group LLC bought a new stake in shares of InnerWorkings in the fourth quarter valued at about $179,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

About InnerWorkings

InnerWorkings, Inc provides marketing execution solutions in North America and internationally. 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.

Receive News & Ratings for InnerWorkings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InnerWorkings and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply