Ingevity Corp (NASDAQ:NGVT) Forecasted to Post FY2017 Earnings of $2.40 Per Share
Ingevity Corp (NASDAQ:NGVT) – Analysts at KeyCorp boosted their FY2017 earnings per share (EPS) estimates for shares of Ingevity Corp in a research report issued on Thursday. KeyCorp analyst M. Sison now forecasts that the company will post earnings of $2.40 per share for the year, up from their previous estimate of $2.35.
Other equities research analysts have also issued reports about the company. Jefferies Group LLC set a $68.00 price target on Ingevity Corp and gave the stock a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised Ingevity Corp from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Wednesday, July 5th. Finally, Aegis reissued a “buy” rating and set a $67.00 price target on shares of Ingevity Corp in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Ingevity Corp has an average rating of “Hold” and an average price target of $64.75.
Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The company had revenue of $260.30 million for the quarter, compared to analysts’ expectations of $259.56 million. Ingevity Corp had a return on equity of 55.06% and a net margin of 10.53%. The firm’s revenue was up 2.3% on a year-over-year basis.
Large investors have recently modified their holdings of the stock. Federated Investors Inc. PA raised its stake in shares of Ingevity Corp by 31.7% in the second quarter. Federated Investors Inc. PA now owns 586,600 shares of the company’s stock worth $33,671,000 after buying an additional 141,100 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Ingevity Corp by 13.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 30,932 shares of the company’s stock worth $1,775,000 after buying an additional 3,762 shares during the period. Marshall Wace North America L.P. raised its stake in shares of Ingevity Corp by 4,456.0% in the second quarter. Marshall Wace North America L.P. now owns 263,974 shares of the company’s stock worth $15,046,000 after buying an additional 258,180 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Ingevity Corp by 454.4% in the second quarter. BNP Paribas Arbitrage SA now owns 49,555 shares of the company’s stock worth $2,844,000 after buying an additional 40,617 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Ingevity Corp by 8.0% in the second quarter. Legal & General Group Plc now owns 81,181 shares of the company’s stock worth $4,654,000 after buying an additional 6,020 shares during the period.
In other news, Director Jean S. Blackwell bought 1,500 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $58.38 per share, with a total value of $87,570.00. Following the transaction, the director now directly owns 4,711 shares in the company, valued at approximately $275,028.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
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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