Intrinsic value of Innophos Holdings - IPHS

Previous Close

$44.69

  Intrinsic Value

$36.10

stock screener

  Rating & Target

hold

-19%

Previous close

$44.69

 
Intrinsic value

$36.10

 
Up/down potential

-19%

 
Rating

hold

We calculate the intrinsic value of IPHS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  15.40
  14.36
  13.42
  12.58
  11.82
  11.14
  10.53
  9.97
  9.48
  9.03
  8.63
  8.26
  7.94
  7.64
  7.38
  7.14
  6.93
  6.73
  6.56
  6.40
  6.26
  6.14
  6.02
  5.92
  5.83
  5.75
  5.67
  5.60
  5.54
  5.49
Revenue, $m
  833
  953
  1,081
  1,217
  1,361
  1,512
  1,671
  1,838
  2,012
  2,194
  2,383
  2,580
  2,785
  2,998
  3,219
  3,449
  3,688
  3,936
  4,195
  4,463
  4,743
  5,034
  5,337
  5,653
  5,983
  6,327
  6,685
  7,060
  7,451
  7,861
Variable operating expenses, $m
  738
  841
  950
  1,066
  1,189
  1,318
  1,454
  1,597
  1,745
  1,901
  2,036
  2,204
  2,379
  2,561
  2,750
  2,946
  3,150
  3,362
  3,583
  3,812
  4,051
  4,300
  4,559
  4,829
  5,110
  5,404
  5,711
  6,031
  6,365
  6,715
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  738
  841
  950
  1,066
  1,189
  1,318
  1,454
  1,597
  1,745
  1,901
  2,036
  2,204
  2,379
  2,561
  2,750
  2,946
  3,150
  3,362
  3,583
  3,812
  4,051
  4,300
  4,559
  4,829
  5,110
  5,404
  5,711
  6,031
  6,365
  6,715
Operating income, $m
  95
  112
  131
  151
  172
  194
  217
  241
  267
  293
  347
  376
  406
  437
  469
  503
  538
  574
  612
  651
  691
  734
  778
  824
  872
  922
  975
  1,029
  1,086
  1,146
EBITDA, $m
  156
  179
  203
  228
  255
  284
  314
  345
  378
  412
  447
  484
  523
  563
  604
  647
  692
  739
  787
  838
  890
  945
  1,002
  1,061
  1,123
  1,187
  1,255
  1,325
  1,399
  1,475
Interest expense (income), $m
  0
  17
  20
  25
  29
  33
  38
  43
  49
  54
  60
  66
  73
  79
  86
  94
  101
  109
  117
  125
  134
  143
  152
  162
  172
  183
  194
  206
  218
  231
  244
Earnings before tax, $m
  78
  92
  106
  122
  138
  156
  174
  193
  212
  233
  281
  303
  327
  351
  376
  402
  429
  457
  486
  517
  548
  581
  616
  652
  689
  728
  769
  811
  856
  902
Tax expense, $m
  21
  25
  29
  33
  37
  42
  47
  52
  57
  63
  76
  82
  88
  95
  101
  108
  116
  123
  131
  140
  148
  157
  166
  176
  186
  197
  208
  219
  231
  244
Net income, $m
  57
  67
  78
  89
  101
  114
  127
  141
  155
  170
  205
  221
  238
  256
  274
  293
  313
  334
  355
  377
  400
  424
  450
  476
  503
  531
  561
  592
  625
  659

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  906
  1,036
  1,175
  1,323
  1,479
  1,644
  1,817
  1,998
  2,187
  2,385
  2,590
  2,805
  3,027
  3,259
  3,499
  3,749
  4,009
  4,279
  4,559
  4,851
  5,155
  5,472
  5,801
  6,145
  6,503
  6,877
  7,267
  7,674
  8,099
  8,544
Adjusted assets (=assets-cash), $m
  906
  1,036
  1,175
  1,323
  1,479
  1,644
  1,817
  1,998
  2,187
  2,385
  2,590
  2,805
  3,027
  3,259
  3,499
  3,749
  4,009
  4,279
  4,559
  4,851
  5,155
  5,472
  5,801
  6,145
  6,503
  6,877
  7,267
  7,674
  8,099
  8,544
Revenue / Adjusted assets
  0.919
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
  0.920
Average production assets, $m
  367
  419
  476
  535
  599
  665
  735
  809
  885
  965
  1,049
  1,135
  1,225
  1,319
  1,416
  1,518
  1,623
  1,732
  1,846
  1,964
  2,087
  2,215
  2,348
  2,487
  2,632
  2,784
  2,942
  3,106
  3,279
  3,459
Working capital, $m
  182
  209
  237
  266
  298
  331
  366
  403
  441
  480
  522
  565
  610
  657
  705
  755
  808
  862
  919
  977
  1,039
  1,102
  1,169
  1,238
  1,310
  1,386
  1,464
  1,546
  1,632
  1,721
Total debt, $m
  379
  454
  534
  619
  709
  804
  903
  1,007
  1,116
  1,230
  1,348
  1,471
  1,599
  1,732
  1,870
  2,014
  2,163
  2,319
  2,480
  2,648
  2,823
  3,005
  3,194
  3,392
  3,598
  3,812
  4,037
  4,271
  4,516
  4,771
Total liabilities, $m
  521
  596
  675
  760
  850
  945
  1,045
  1,149
  1,258
  1,371
  1,490
  1,613
  1,741
  1,874
  2,012
  2,156
  2,305
  2,460
  2,622
  2,789
  2,964
  3,146
  3,336
  3,533
  3,739
  3,954
  4,178
  4,413
  4,657
  4,913
Total equity, $m
  385
  440
  499
  562
  629
  699
  772
  849
  930
  1,014
  1,101
  1,192
  1,287
  1,385
  1,487
  1,593
  1,704
  1,818
  1,938
  2,062
  2,191
  2,325
  2,466
  2,612
  2,764
  2,923
  3,088
  3,261
  3,442
  3,631
Total liabilities and equity, $m
  906
  1,036
  1,174
  1,322
  1,479
  1,644
  1,817
  1,998
  2,188
  2,385
  2,591
  2,805
  3,028
  3,259
  3,499
  3,749
  4,009
  4,278
  4,560
  4,851
  5,155
  5,471
  5,802
  6,145
  6,503
  6,877
  7,266
  7,674
  8,099
  8,544
Debt-to-equity ratio
  0.990
  1.030
  1.070
  1.100
  1.130
  1.150
  1.170
  1.190
  1.200
  1.210
  1.220
  1.230
  1.240
  1.250
  1.260
  1.260
  1.270
  1.280
  1.280
  1.280
  1.290
  1.290
  1.300
  1.300
  1.300
  1.300
  1.310
  1.310
  1.310
  1.310
Adjusted equity ratio
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  57
  67
  78
  89
  101
  114
  127
  141
  155
  170
  205
  221
  238
  256
  274
  293
  313
  334
  355
  377
  400
  424
  450
  476
  503
  531
  561
  592
  625
  659
Depreciation, amort., depletion, $m
  61
  66
  72
  78
  84
  90
  97
  104
  111
  119
  100
  108
  117
  126
  135
  145
  155
  165
  176
  187
  199
  211
  224
  237
  251
  265
  280
  296
  312
  329
Funds from operations, $m
  119
  134
  150
  167
  185
  204
  223
  244
  266
  289
  305
  330
  355
  382
  409
  438
  468
  499
  531
  564
  599
  635
  673
  713
  754
  797
  841
  888
  937
  988
Change in working capital, $m
  24
  26
  28
  30
  32
  33
  35
  37
  38
  40
  41
  43
  45
  47
  48
  50
  52
  54
  57
  59
  61
  64
  66
  69
  72
  75
  79
  82
  86
  90
Cash from operations, $m
  94
  107
  122
  137
  153
  170
  189
  208
  228
  249
  264
  286
  310
  335
  361
  388
  415
  444
  474
  505
  538
  572
  607
  643
  682
  721
  763
  806
  851
  898
Maintenance CAPEX, $m
  -30
  -35
  -40
  -45
  -51
  -57
  -63
  -70
  -77
  -84
  -92
  -100
  -108
  -117
  -126
  -135
  -145
  -155
  -165
  -176
  -187
  -199
  -211
  -224
  -237
  -251
  -265
  -280
  -296
  -312
New CAPEX, $m
  -49
  -53
  -56
  -60
  -63
  -67
  -70
  -73
  -77
  -80
  -83
  -87
  -90
  -94
  -97
  -101
  -105
  -109
  -114
  -118
  -123
  -128
  -133
  -139
  -145
  -151
  -158
  -165
  -172
  -180
Cash from investing activities, $m
  -79
  -88
  -96
  -105
  -114
  -124
  -133
  -143
  -154
  -164
  -175
  -187
  -198
  -211
  -223
  -236
  -250
  -264
  -279
  -294
  -310
  -327
  -344
  -363
  -382
  -402
  -423
  -445
  -468
  -492
Free cash flow, $m
  15
  20
  25
  32
  39
  47
  55
  64
  74
  85
  88
  100
  112
  125
  138
  151
  166
  180
  196
  211
  228
  245
  262
  281
  300
  319
  340
  361
  383
  406
Issuance/(repayment) of debt, $m
  69
  75
  80
  85
  90
  95
  99
  104
  109
  114
  118
  123
  128
  133
  138
  144
  149
  155
  161
  168
  175
  182
  190
  198
  206
  215
  224
  234
  245
  256
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  69
  75
  80
  85
  90
  95
  99
  104
  109
  114
  118
  123
  128
  133
  138
  144
  149
  155
  161
  168
  175
  182
  190
  198
  206
  215
  224
  234
  245
  256
Total cash flow (excl. dividends), $m
  84
  95
  105
  117
  129
  141
  155
  169
  183
  198
  207
  223
  240
  258
  276
  295
  315
  336
  357
  379
  403
  427
  452
  478
  506
  534
  564
  595
  628
  662
Retained Cash Flow (-), $m
  -51
  -55
  -59
  -63
  -66
  -70
  -74
  -77
  -80
  -84
  -87
  -91
  -95
  -98
  -102
  -106
  -110
  -115
  -119
  -124
  -129
  -134
  -140
  -146
  -152
  -159
  -166
  -173
  -181
  -189
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  32
  39
  46
  54
  62
  71
  81
  92
  103
  114
  119
  132
  145
  159
  174
  189
  205
  221
  238
  255
  273
  292
  312
  332
  353
  375
  398
  422
  447
  473
Discount rate, %
  6.50
  6.83
  7.17
  7.52
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.43
  17.25
  18.11
  19.01
  19.96
  20.96
  22.01
  23.11
  24.27
  25.48
  26.75
PV of cash for distribution, $m
  30
  34
  38
  40
  43
  44
  45
  45
  45
  44
  39
  37
  35
  32
  28
  25
  21
  18
  15
  12
  10
  8
  6
  4
  3
  2
  1
  1
  1
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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. The Company has four principal product lines: Specialty Ingredients; Food and Technical Grade Purified Phosphoric Acid (PPA); Technical Grade Sodium Tripolyphosphate (STPP), & Detergent Grade PPA, and GTSP & Other. The Company's bioactive mineral ingredients are mineral-based ingredients for food, beverage and dietary supplement end markets that are manufactured to be readily digestible. The Company has its manufacturing facilities located throughout the United States, Canada, Mexico and China.

FINANCIAL RATIOS  of  Innophos Holdings (IPHS)

Valuation Ratios
P/E Ratio 18.1
Price to Sales 1.2
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 6.3
Price to Free Cash Flow 8.5
Growth Rates
Sales Growth Rate -8.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 15.6%
Cap. Spend. - 3 Yr. Gr. Rate 2.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 53.3%
Total Debt to Equity 53.3%
Interest Coverage 0
Management Effectiveness
Return On Assets 7.3%
Ret/ On Assets - 3 Yr. Avg. 6.8%
Return On Total Capital 8.9%
Ret/ On T. Cap. - 3 Yr. Avg. 8%
Return On Equity 14.1%
Return On Equity - 3 Yr. Avg. 11.5%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 20.7%
Gross Margin - 3 Yr. Avg. 20.4%
EBITDA Margin 14.8%
EBITDA Margin - 3 Yr. Avg. 13.8%
Operating Margin 10.9%
Oper. Margin - 3 Yr. Avg. 10%
Pre-Tax Margin 9.7%
Pre-Tax Margin - 3 Yr. Avg. 8.8%
Net Profit Margin 6.6%
Net Profit Margin - 3 Yr. Avg. 5.8%
Effective Tax Rate 31.4%
Eff/ Tax Rate - 3 Yr. Avg. 33.5%
Payout Ratio 77.1%

IPHS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IPHS stock intrinsic value calculation we used $722.024 million for the last fiscal year's total revenue generated by Innophos Holdings. The default revenue input number comes from 0001 income statement of Innophos Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our IPHS stock valuation model: a) initial revenue growth rate of 15.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.5%, whose default value for IPHS is calculated based on our internal credit rating of Innophos Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Innophos Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of IPHS stock the variable cost ratio is equal to 89.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for IPHS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Innophos Holdings.

Corporate tax rate of 27% is the nominal tax rate for Innophos Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the IPHS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for IPHS are equal to 44%.

Life of production assets of 10.5 years is the average useful life of capital assets used in Innophos Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for IPHS is equal to 21.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $333.559 million for Innophos Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 19.608 million for Innophos Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Innophos Holdings at the current share price and the inputted number of shares is $0.9 billion.

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COMPANY NEWS

▶ 3 Stocks That You Should Definitely Consider Shorting   [Sep-02-18 02:00PM  TheStreet.com]
▶ Innophos Holdings, Inc. Declares Quarterly Dividend   [Jul-30-18 02:15PM  Business Wire]
▶ Top NasdaqGS Materials Dividend Picks For The Day   [May-06-18 02:02PM  Simply Wall St.]
▶ Innophos Holdings, Inc. Declares Quarterly Dividend   [May-01-18 02:15PM  Business Wire]
▶ Innophos: 1Q Earnings Snapshot   [08:51AM  Associated Press]
▶ April Dividend Stock Picks   [Apr-30-18 09:02AM  Simply Wall St.]
▶ Value-Adding Materials Dividend Stocks To Buy Now   [Apr-01-18 02:02PM  Simply Wall St.]
▶ February Materials Dividend Stocks To Look Out For   [Feb-25-18 01:02PM  Simply Wall St.]
▶ Innophos Holdings, Inc. Declares Quarterly Dividend   [Feb-21-18 02:15PM  Business Wire]
▶ Innophos reports 4Q loss   [08:13AM  Associated Press]
▶ Innophos Holdings, Inc. Announces Annual Meeting   [Feb-16-18 11:00AM  PR Newswire]
▶ Top NYSE Stocks   [06:02AM  Simply Wall St.]
▶ January Materials Dividend Stocks To Look Out For   [Jan-21-18 01:02PM  Simply Wall St.]
▶ Top Dividend Paying Stocks   [Jan-18-18 08:02AM  Simply Wall St.]
▶ NasdaqGS Top Dividend Paying Stocks   [Dec-09-17 08:02AM  Simply Wall St.]
▶ Innophos Holdings, Inc. Declares Quarterly Dividend   [Oct-31-17 02:15PM  PR Newswire]
▶ Innophos posts 3Q profit   [07:48AM  Associated Press]
▶ Innophos Recognized for Excellence in Board Diversity   [Sep-19-17 10:00AM  PR Newswire]
▶ New Strong Buy Stocks for September 1st   [Sep-01-17 09:58AM  Zacks]
▶ New Strong Buy Stocks for August 30th   [Aug-30-17 09:11AM  Zacks]
▶ New Strong Buy Stocks for August 23rd   [Aug-23-17 10:56AM  Zacks]
▶ New Strong Buy Stocks for August 11th   [Aug-11-17 06:51AM  Zacks]
▶ Innophos posts 2Q profit   [Aug-01-17 09:31PM  Associated Press]

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