Q3 2017 EPS Estimates for Ingevity Corp (NASDAQ:NGVT) Decreased by Analyst
Ingevity Corp (NASDAQ:NGVT) – Equities researchers at Jefferies Group reduced their Q3 2017 earnings per share estimates for Ingevity Corp in a note issued to investors on Thursday. Jefferies Group analyst D. Rizzo now expects that the company will earn $0.72 per share for the quarter, down from their previous forecast of $0.74. Jefferies Group has a “Buy” rating and a $68.00 price objective on the stock. Jefferies Group also issued estimates for Ingevity Corp’s FY2017 earnings at $2.45 EPS.
Several other equities research analysts have also issued reports on NGVT. Zacks Investment Research lowered Ingevity Corp from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Aegis reiterated a “buy” rating and set a $67.00 price target on shares of Ingevity Corp in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $64.75.
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Shares of Ingevity Corp (NASDAQ:NGVT) opened at 61.40 on Monday. 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 is $57.17 and its 200-day moving average is $57.98. The firm has a market cap of $2.58 billion and a P/E ratio of 49.04.
Ingevity Corp (NASDAQ:NGVT) last posted its earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.08. The firm had revenue of $260.30 million during the quarter, compared to the consensus estimate of $259.56 million. Ingevity Corp had a net margin of 10.53% and a return on equity of 55.06%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis.
Several large investors have recently made changes to their positions in the stock. Elkfork Partners LLC raised its stake in shares of Ingevity Corp by 7.1% in the first quarter. Elkfork Partners LLC now owns 2,002 shares of the company’s stock valued at $122,000 after buying an additional 132 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Ingevity Corp by 125.3% in the first quarter. IFP Advisors Inc now owns 2,224 shares of the company’s stock valued at $135,000 after buying an additional 1,237 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of Ingevity Corp by 7.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the company’s stock valued at $155,000 after buying an additional 168 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of Ingevity Corp by 7.1% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the company’s stock valued at $188,000 after buying an additional 204 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Ingevity Corp by 46.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock valued at $211,000 after buying an additional 1,117 shares in the last quarter.
In other news, Director Jean S. Blackwell purchased 1,500 shares of Ingevity Corp stock in a transaction dated Monday, May 15th. The stock was acquired 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 in the company, valued at $275,028.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
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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