FY2018 EPS Estimates for Ingevity Corp Raised by Analyst (NGVT)
Ingevity Corp (NASDAQ:NGVT) – Equities research analysts at Oppenheimer Holdings raised their FY2018 EPS estimates for shares of Ingevity Corp in a report released on Thursday. Oppenheimer Holdings analyst I. Zaffino now expects that the company will post earnings per share of $2.81 for the year, up from their prior forecast of $2.77.
Several other research analysts also recently commented on NGVT. Jefferies Group LLC raised their price objective on Ingevity Corp from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Zacks Investment Research downgraded Ingevity Corp from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Finally, Aegis restated a “buy” rating and set a $67.00 price objective on shares of Ingevity Corp in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $64.75.
Shares of Ingevity Corp (NASDAQ NGVT) opened at 61.40 on Monday. The company has a market capitalization of $2.58 billion and a price-to-earnings ratio of 49.04. Ingevity Corp has a 52-week low of $37.53 and a 52-week high of $65.02. The company’s 50 day moving average price is $57.17 and its 200 day moving average price is $57.98.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.08. Ingevity Corp had a return on equity of 55.06% and a net margin of 10.53%. The company had revenue of $260.30 million for the quarter, compared to analyst estimates of $259.56 million. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year.
In other news, Director Jean S. Blackwell acquired 1,500 shares of Ingevity Corp stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $58.38 per share, for a total transaction of $87,570.00. Following the acquisition, the director now directly owns 4,711 shares of the company’s stock, valued at approximately $275,028.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGVT. Dimensional Fund Advisors LP increased its position in Ingevity Corp by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 440,364 shares of the company’s stock valued at $24,158,000 after buying an additional 46,084 shares during the last quarter. Norges Bank purchased a new position in Ingevity Corp during the fourth quarter valued at approximately $17,268,000. Teachers Advisors LLC increased its position in Ingevity Corp by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 89,040 shares of the company’s stock valued at $4,885,000 after buying an additional 1,636 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Ingevity Corp by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the company’s stock valued at $1,041,000 after buying an additional 200 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Ingevity Corp by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,670 shares of the company’s stock valued at $284,000 after buying an additional 110 shares during the last quarter.
Ingevity Corp Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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