Shares of InnerWorkings Inc. (NASDAQ:INWK) have been given a consensus broker rating score of 1.75 (Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company.
Analysts have set a one year consensus target price of $10.67 for the company and are expecting that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also given InnerWorkings an industry rank of 168 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered shares of InnerWorkings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th.
InnerWorkings (NASDAQ:INWK) opened at 8.89 on Thursday. InnerWorkings has a 52 week low of $6.06 and a 52 week high of $10.08. The company’s market capitalization is $476.46 million. The firm has a 50-day moving average of $8.87 and a 200-day moving average of $8.45.
InnerWorkings (NASDAQ:INWK) last posted its earnings results on Monday, August 15th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. InnerWorkings had a negative net margin of 3.66% and a positive return on equity of 7.05%. The firm had revenue of $269.20 million for the quarter, compared to analyst estimates of $262.46 million. During the same period in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts expect that InnerWorkings will post $0.33 earnings per share for the current fiscal year.
In other news, major shareholder Sagard Capital Partners, L.P. sold 6,721,467 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $8.25, for a total value of $55,452,102.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. 18.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of InnerWorkings during the second quarter valued at about $1,693,000. Swiss National Bank raised its position in shares of InnerWorkings by 9.3% in the second quarter. Swiss National Bank now owns 62,100 shares of the company’s stock valued at $514,000 after buying an additional 5,300 shares in the last quarter. California State Teachers Retirement System raised its position in shares of InnerWorkings by 2.5% in the second quarter. California State Teachers Retirement System now owns 80,584 shares of the company’s stock valued at $666,000 after buying an additional 1,970 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of InnerWorkings by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 227,331 shares of the company’s stock valued at $1,880,000 after buying an additional 9,542 shares in the last quarter. Finally, Kalmar Investments Inc. DE raised its position in shares of InnerWorkings by 11.8% in the second quarter. Kalmar Investments Inc. DE now owns 670,242 shares of the company’s stock valued at $5,543,000 after buying an additional 70,999 shares in the last quarter. 77.85% of the stock is currently owned by institutional investors and hedge funds.
InnerWorkings Company Profile
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 operates through three segments: North America, Latin America and EMEA.