SunTrust Banks Weighs in on Ingevity Corp’s Q3 2017 Earnings (NGVT)
Ingevity Corp (NASDAQ:NGVT) – Research analysts at SunTrust Banks increased their Q3 2017 EPS estimates for Ingevity Corp in a note issued to investors on Friday. SunTrust Banks analyst J. Sheehan now anticipates that the company will earn $0.72 per share for the quarter, up from their prior forecast of $0.69. SunTrust Banks also issued estimates for Ingevity Corp’s Q4 2017 earnings at $0.34 EPS, FY2017 earnings at $2.34 EPS, FY2018 earnings at $2.50 EPS and FY2019 earnings at $3.14 EPS.
Ingevity Corp (NASDAQ:NGVT) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.70 by $0.08. Ingevity Corp had a net margin of 10.53% and a return on equity of 55.06%. The business had revenue of $260.30 million during the quarter, compared to analyst estimates of $259.56 million. The company’s quarterly revenue was up 2.3% on a year-over-year basis.
NGVT has been the topic of several other reports. Zacks Investment Research lowered shares of Ingevity Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Jefferies Group LLC set a $68.00 target price on shares of Ingevity Corp and gave the stock a “buy” rating in a research report on Wednesday, July 5th. Finally, Aegis restated a “buy” rating and set a $67.00 target price on shares of Ingevity Corp in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Ingevity Corp has a consensus rating of “Hold” and an average target price of $64.75.
Ingevity Corp (NGVT) opened at 61.40 on Monday. The company has a market cap of $2.58 billion and a price-to-earnings ratio of 49.04. Ingevity Corp has a 1-year low of $37.53 and a 1-year high of $65.02. The company’s 50 day moving average is $57.17 and its 200 day moving average is $57.98.
Large investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA raised its stake in Ingevity Corp by 31.7% in the second quarter. Federated Investors Inc. PA now owns 586,600 shares of the company’s stock valued at $33,671,000 after buying an additional 141,100 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in 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 valued at $1,775,000 after buying an additional 3,762 shares in the last quarter. Marshall Wace North America L.P. raised its stake in 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 valued at $15,046,000 after buying an additional 258,180 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Ingevity Corp by 454.4% in the second quarter. BNP Paribas Arbitrage SA now owns 49,555 shares of the company’s stock valued at $2,844,000 after buying an additional 40,617 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Ingevity Corp by 8.0% in the second quarter. Legal & General Group Plc now owns 81,181 shares of the company’s stock valued at $4,654,000 after buying an additional 6,020 shares in the last quarter.
In other Ingevity Corp news, Director Jean S. Blackwell acquired 1,500 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $58.38 per share, for a total transaction of $87,570.00. Following the transaction, the director now directly owns 4,711 shares of the company’s stock, valued at $275,028.18. The purchase was disclosed in a document filed with the SEC, which can be accessed through 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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